MRL3701
ASSIGNMENT 1 (SEMESTER 1)
DUE DATE: 25 March 2025
Written Assignment Submission Guidelines:
Please ensure that your assignment is submitted electronically through the myUnisa platform no
later than March 2025. Kindly note that fax or email submissions will not be accepted.
NB: Assignment submitted to the lecturer(s) through email will not be considered.
QUESTION 1
To determine whether Maria is likely to be successful in an application for the sequestration of
Thabo's estate, we need to analyze the relevant requirements for sequestration under South
African law. The primary law governing sequestration is the Insolvency Act 24 of 1936, which
provides a framework for the sequestration of individuals' estates. In this case, Maria, as a creditor,
can apply for Thabo’s sequestration if she meets the necessary requirements.
Key Requirements for Sequestration:
1. Proof of Insolvency:
Maria must show that Thabo is insolvent. Insolvency occurs when a person’s liabilities exceed
their assets. In this case, Thabo’s liabilities have exceeded his assets since 30 November 2024,
which means that Thabo is insolvent. The fact that Thabo’s debts outweigh the value of his assets
is crucial for Maria’s sequestration application.
According to the Insolvency Act, insolvency can be proven by submitting a statement of Thabo’s
financial position, showing that his liabilities exceed his assets. Since Thabo has failed to pay his
ASSIGNMENT 1 (SEMESTER 1)
DUE DATE: 25 March 2025
Written Assignment Submission Guidelines:
Please ensure that your assignment is submitted electronically through the myUnisa platform no
later than March 2025. Kindly note that fax or email submissions will not be accepted.
NB: Assignment submitted to the lecturer(s) through email will not be considered.
QUESTION 1
To determine whether Maria is likely to be successful in an application for the sequestration of
Thabo's estate, we need to analyze the relevant requirements for sequestration under South
African law. The primary law governing sequestration is the Insolvency Act 24 of 1936, which
provides a framework for the sequestration of individuals' estates. In this case, Maria, as a creditor,
can apply for Thabo’s sequestration if she meets the necessary requirements.
Key Requirements for Sequestration:
1. Proof of Insolvency:
Maria must show that Thabo is insolvent. Insolvency occurs when a person’s liabilities exceed
their assets. In this case, Thabo’s liabilities have exceeded his assets since 30 November 2024,
which means that Thabo is insolvent. The fact that Thabo’s debts outweigh the value of his assets
is crucial for Maria’s sequestration application.
According to the Insolvency Act, insolvency can be proven by submitting a statement of Thabo’s
financial position, showing that his liabilities exceed his assets. Since Thabo has failed to pay his
