MRL3701 Assignment 1 (COMPLETE ANSWERS)
Semester 2 2024 - DUE 2024 questions and answers
released - The property of the spouse of the insolvent, where the marriage is out
of community of property, also vests in the trustee of the insolvent estate, until it
is ____ by the trustee
defamation - Section 23(8) allows the insolvent to recover for his own benefit
compensation for any loss or damage which he may have suffered, whether
before or after sequestration of his estate, by reason of ____ or personal injury
title - The trustee is obliged to release property which was acquired by the
solvent spouse during her marriage with the insolvent by a valid _____ against
creditors of the insolvent
sequestration - The _______ of an employers estate suspends the employment
contract between him and his employees with immediate effect
person's - The terms sequestration and sequestration order should stritly be
used only with reference to a ____ estate
personal - In Ex Parte Henning, the statement of affairs that lay for inspection did
not contain the ____ information
8(g) - According to section ____ of the Insolvency Act, it is an act of insolvency if
a debtor gives notice in writing to a creditor that he is unable to pay one or more
of his debts
written - A debtor may not, without the ____ consent of the trustee enter into a
contract which adversely affects his estate
,asset - If the insolvent has carried out his side of the contract and only the other
party's performance is outstanding, the right to that performance is an ___ in the
insolvent estate and vests in the trustee
first - After receiving a final sequestration order the Master must immediately
convene (cause to come together) a _____ meeting of creditors by notice in the
gov gazette
minor child - A nurse who has treated the insolvent's deceased wife or ____ may
have a preferent claim against the insolvent estate if further requirements are
met
absolute - Note that as a result of a relative ground for disqualification such a
person cannot be a trustee of a specific insolvent estate. This prohibition differs
from the ____ grounds for disqualification where such a person may not be a
trustee of any insolvent estate whatsoever
order of court - the term disposition does not include a disposition made in
compliance with an ______
pledge - A valid ____ is constituted where there is delivery of movable property
to a creditor on the understanding that it will be retained by him until his claim
has been satisfied
two - Interest due on a secured claim for a period not exceeding ____ years
immediately preceding the date of sequestration is secured as if it were part of
the capital sum
court - The rehabilitation of an insolvent is a matter which lies solely within the
discretion of the _____
directors - the human beings (the natural persons) who administer the business
of the company are its ______
, common law - When a partnership is dissolved because the estate of one of the
partners has been sequestrated, the partnership assets are divided among the
partners in terms of the partnership contract or the ______
sequestration - Rehabilitation has the effect of putting an end to the _____
unsecured - Employees are "preferred ______ creditors" for unpaid but due and
payable sums of remuneration, reimbursements for expenses or other
employment related money before the business rescue proceedings began
equitable - the main objective of a sequestration order is to secure the just and
____ distribution of a debtor's assets where they are insufficient to meet the
claims of all his creditors
legislature - the Master is a 'creature of statute' and as such has only the powers
granted to him by the _____
dispose - The debtor may not make a contract which purports to ____ of any
property of his insolvent estate
final - On the receipt of a ______ sequestration order, the Master is obliged to
convene immediately by notice in the Gazette, a first meeting of creditors of the
estate
abandonment - According to section 2 of the Insolvency Act 24 of 1936, the term
'disposition' includes , amongst others, a transfer or ______ of rights to property
retention (or lien) - Broadly speaking, a party (Ben), has a right of ____ over
specific property belonging to anther if he (Ben) has expended labour or
incurred expenses in respect of the property
impeachable - there may be various reasons why an interested person wishes to
apply for an order that automatic rehabilitation should not take place after the
Semester 2 2024 - DUE 2024 questions and answers
released - The property of the spouse of the insolvent, where the marriage is out
of community of property, also vests in the trustee of the insolvent estate, until it
is ____ by the trustee
defamation - Section 23(8) allows the insolvent to recover for his own benefit
compensation for any loss or damage which he may have suffered, whether
before or after sequestration of his estate, by reason of ____ or personal injury
title - The trustee is obliged to release property which was acquired by the
solvent spouse during her marriage with the insolvent by a valid _____ against
creditors of the insolvent
sequestration - The _______ of an employers estate suspends the employment
contract between him and his employees with immediate effect
person's - The terms sequestration and sequestration order should stritly be
used only with reference to a ____ estate
personal - In Ex Parte Henning, the statement of affairs that lay for inspection did
not contain the ____ information
8(g) - According to section ____ of the Insolvency Act, it is an act of insolvency if
a debtor gives notice in writing to a creditor that he is unable to pay one or more
of his debts
written - A debtor may not, without the ____ consent of the trustee enter into a
contract which adversely affects his estate
,asset - If the insolvent has carried out his side of the contract and only the other
party's performance is outstanding, the right to that performance is an ___ in the
insolvent estate and vests in the trustee
first - After receiving a final sequestration order the Master must immediately
convene (cause to come together) a _____ meeting of creditors by notice in the
gov gazette
minor child - A nurse who has treated the insolvent's deceased wife or ____ may
have a preferent claim against the insolvent estate if further requirements are
met
absolute - Note that as a result of a relative ground for disqualification such a
person cannot be a trustee of a specific insolvent estate. This prohibition differs
from the ____ grounds for disqualification where such a person may not be a
trustee of any insolvent estate whatsoever
order of court - the term disposition does not include a disposition made in
compliance with an ______
pledge - A valid ____ is constituted where there is delivery of movable property
to a creditor on the understanding that it will be retained by him until his claim
has been satisfied
two - Interest due on a secured claim for a period not exceeding ____ years
immediately preceding the date of sequestration is secured as if it were part of
the capital sum
court - The rehabilitation of an insolvent is a matter which lies solely within the
discretion of the _____
directors - the human beings (the natural persons) who administer the business
of the company are its ______
, common law - When a partnership is dissolved because the estate of one of the
partners has been sequestrated, the partnership assets are divided among the
partners in terms of the partnership contract or the ______
sequestration - Rehabilitation has the effect of putting an end to the _____
unsecured - Employees are "preferred ______ creditors" for unpaid but due and
payable sums of remuneration, reimbursements for expenses or other
employment related money before the business rescue proceedings began
equitable - the main objective of a sequestration order is to secure the just and
____ distribution of a debtor's assets where they are insufficient to meet the
claims of all his creditors
legislature - the Master is a 'creature of statute' and as such has only the powers
granted to him by the _____
dispose - The debtor may not make a contract which purports to ____ of any
property of his insolvent estate
final - On the receipt of a ______ sequestration order, the Master is obliged to
convene immediately by notice in the Gazette, a first meeting of creditors of the
estate
abandonment - According to section 2 of the Insolvency Act 24 of 1936, the term
'disposition' includes , amongst others, a transfer or ______ of rights to property
retention (or lien) - Broadly speaking, a party (Ben), has a right of ____ over
specific property belonging to anther if he (Ben) has expended labour or
incurred expenses in respect of the property
impeachable - there may be various reasons why an interested person wishes to
apply for an order that automatic rehabilitation should not take place after the
