MRL3701
Assignment 2 Semester 2 2025
Unique Number:
Due Date: 9 September 2025
QUESTION 1 (3 DIFFERENT ANSWERS PROVIDED)
Once a court grants an order for the sequestration of Bongani’s estate under the Insolvency
Act 24 of 1936, the legal status and management of his estate change significantly. The
immediate effect is that Bongani is declared insolvent, and his estate—comprising all assets
and liabilities—is handed over to the Master of the High Court, and later to a trustee, who
manages the estate on behalf of the creditors.
According to section 20(1)(a) of the Act, all of Bongani’s property, including his flat (valued at
R1,250,000) and motor vehicle (R200,000), will vest in the Master and, upon appointment, in
the trustee. Bongani loses control over his assets and can no longer manage, sell, or dispose
of any property in his name. Performance under contracts must now be directed to the
trustee, not to Bongani personally.
Terms of use
By making use of this document you agree to:
Use this document as a guide for learning, comparison and reference purpose,
Terms of use
Not to duplicate, reproduce and/or misrepresent the contents of this document as your own work,
By making use of this document you agree to:
Use this document
Fully accept the consequences
solely as a guide forshould you plagiarise
learning, reference,or and
misuse this document.
comparison purposes,
Ensure originality of your own work, and fully accept the consequences should you plagiarise or misuse this document.
Comply with all relevant standards, guidelines, regulations, and legislation governing academic and written work.
Disclaimer
Great care has been taken in the preparation of this document; however, the contents are provided "as is" without any express or
implied representations or warranties. The author accepts no responsibility or liability for any actions taken based on the
information contained within this document. This document is intended solely for comparison, research, and reference purposes.
Reproduction, resale, or transmission of any part of this document, in any form or by any means, is strictly prohibited.
Assignment 2 Semester 2 2025
Unique Number:
Due Date: 9 September 2025
QUESTION 1 (3 DIFFERENT ANSWERS PROVIDED)
Once a court grants an order for the sequestration of Bongani’s estate under the Insolvency
Act 24 of 1936, the legal status and management of his estate change significantly. The
immediate effect is that Bongani is declared insolvent, and his estate—comprising all assets
and liabilities—is handed over to the Master of the High Court, and later to a trustee, who
manages the estate on behalf of the creditors.
According to section 20(1)(a) of the Act, all of Bongani’s property, including his flat (valued at
R1,250,000) and motor vehicle (R200,000), will vest in the Master and, upon appointment, in
the trustee. Bongani loses control over his assets and can no longer manage, sell, or dispose
of any property in his name. Performance under contracts must now be directed to the
trustee, not to Bongani personally.
Terms of use
By making use of this document you agree to:
Use this document as a guide for learning, comparison and reference purpose,
Terms of use
Not to duplicate, reproduce and/or misrepresent the contents of this document as your own work,
By making use of this document you agree to:
Use this document
Fully accept the consequences
solely as a guide forshould you plagiarise
learning, reference,or and
misuse this document.
comparison purposes,
Ensure originality of your own work, and fully accept the consequences should you plagiarise or misuse this document.
Comply with all relevant standards, guidelines, regulations, and legislation governing academic and written work.
Disclaimer
Great care has been taken in the preparation of this document; however, the contents are provided "as is" without any express or
implied representations or warranties. The author accepts no responsibility or liability for any actions taken based on the
information contained within this document. This document is intended solely for comparison, research, and reference purposes.
Reproduction, resale, or transmission of any part of this document, in any form or by any means, is strictly prohibited.
