STUDY SMART TUTORS
SEMESTER 1 2024 UNISA
MRL3701 ASSIGNMENT 1
INSOLVENCY LAW
UNIQUE NUMBER: - 686262
DUE DATE: - 14 MARCH 2024
INCLUDES FOOTNOTES AND/OR
BIBLIOGRAPY
See page 1 for preview.
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. – STUDY SMART TUTORS
, 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
SEMESTER 1 2024 UNISA
MRL3701 ASSIGNMENT 1
INSOLVENCY LAW
UNIQUE NUMBER: - 686262
DUE DATE: - 14 MARCH 2024
INCLUDES FOOTNOTES AND/OR
BIBLIOGRAPY
See page 1 for preview.
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. – STUDY SMART TUTORS
, 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
