INSOLVENCY LAW
MRL3701
ASSIGNMENT 1
DUE DATE: - 14 MARCH 2024
UNIQUE NUMBER: - 686262
SEMESTER 1 2024
UNISA
INCLUDES FOOTNOTES AND/OR
BIBLIOGRAPHY
PREVIEW AVAILABLE ON PAGE 1.
THE LAW TUTOR
Disclaimer
Extreme care has been used by our Tutors to draft this document,
however the contents are provided “as is” without any representations
or warranties, express or implied. This document is to be used for
comparison, research, and reference purposes ONLY. No part of this
document may be reproduced, resold, or transmitted in any form or by
any means without prior written permission from the Author. – THE
LAW TUTOR
, Assessment 01: Question 1: (5 marks)
Indicate whether the following statements are TRUE (T) or FALSE (F) and provide a
reason or explanation for your answer.
a. An act of insolvency committed by a spouse married in community of property
operates as an act of insolvency by the guilty spouse.
b. During the period of insolvency, an insolvent is not allowed to acquire a new estate.
c. The insolvent may recover for his own benefit any pension to which he may be
entitled as this forms part of property that does not fall into the insolvent estate.
d. An insolvent who brings an action in the Magistrate’s Court is obliged by Rule
62(1)(b) of the Magistrate’s Court Rules to give security for the costs of the action if the
defendant requests it.
e. A debtor who has no assets and only liabilities can surrender his estate. (5)
a. TRUE –
An act of insolvency committed by a spouse married in community of property operates as
an act of insolvency by the guilty spouse. In a community of property marriage, the financial
affairs of both spouses are intertwined, and an act of insolvency by one spouse affects the
joint estate.1
1
Insolvency Act 24 of 1936
MRL3701
ASSIGNMENT 1
DUE DATE: - 14 MARCH 2024
UNIQUE NUMBER: - 686262
SEMESTER 1 2024
UNISA
INCLUDES FOOTNOTES AND/OR
BIBLIOGRAPHY
PREVIEW AVAILABLE ON PAGE 1.
THE LAW TUTOR
Disclaimer
Extreme care has been used by our Tutors to draft this document,
however the contents are provided “as is” without any representations
or warranties, express or implied. This document is to be used for
comparison, research, and reference purposes ONLY. No part of this
document may be reproduced, resold, or transmitted in any form or by
any means without prior written permission from the Author. – THE
LAW TUTOR
, Assessment 01: Question 1: (5 marks)
Indicate whether the following statements are TRUE (T) or FALSE (F) and provide a
reason or explanation for your answer.
a. An act of insolvency committed by a spouse married in community of property
operates as an act of insolvency by the guilty spouse.
b. During the period of insolvency, an insolvent is not allowed to acquire a new estate.
c. The insolvent may recover for his own benefit any pension to which he may be
entitled as this forms part of property that does not fall into the insolvent estate.
d. An insolvent who brings an action in the Magistrate’s Court is obliged by Rule
62(1)(b) of the Magistrate’s Court Rules to give security for the costs of the action if the
defendant requests it.
e. A debtor who has no assets and only liabilities can surrender his estate. (5)
a. TRUE –
An act of insolvency committed by a spouse married in community of property operates as
an act of insolvency by the guilty spouse. In a community of property marriage, the financial
affairs of both spouses are intertwined, and an act of insolvency by one spouse affects the
joint estate.1
1
Insolvency Act 24 of 1936
