MRL3701
Assignment 1
(COMPLETE ANSWERS)
Semester 1 2025
DUE 25 March 2025
, ACTIVITIES
Maria approaches you for advice. He informs you that his brother, Eric, owes him R24,000 for pool
cleaning services rendered by his company. Maria explains to you that despite various attempts to
get Eric to pay his debts, he has yet to make any payment. Martin is especially upset because he has
heard a rumour that Eric owes money to several people, amongst them a mutual best friend,
Kenneth. Kenneth informed Martin that Eric wrote him a letter stating that he is unable to pay his
debts to him (Kenneth) and asked in the letter whether they could make arrangements to pay him
back in instalments. Martin now wants to know from you whether you can assist him to apply for the
compulsory sequestration of Eric‘s estate. Thabo owes an amount of R2 567 374.00 to his creditors.
Since Thabo's retrenchment by his longstanding employer in March 2024, Thabo has been
experiencing ongoing financial difficulty. He has failed to pay his debts over the past few months, and
since 30 November 2024 his liabilities have exceeded his assets. Maria is one of Thabo's creditors,
who is owed an amount of R320 000 by Thabo. Thabo's debt to Maria was due and payable on 5
January 2025, but Thabo failed to pay the debt. Disappointed at this. Mari a undertook an
investigation into Thabo's financial affairs. She has established that Thabo owns an apartment valued
at R2 250 000 and furniture valued at R300.000. She has also discovered that Thabo had owed his
cousin an amount of R400,000, which was due and payable only on 30 April 2025. and that Thabo
had made an early repayment in full to his cousin on 29 January 2025. Thabo had wanted to ensure
that should one o f his creditors apply for the sequestration of his estate. his family members would
not suffer any financial loss. With the above in mind, d a court order for the iscuss whether Maria is
likely to be successful in an application for sequestration of Thabo's estate. Include in your discussion
the requirements she must prove to succeed with such an application. Explain the conduct above and
refer to relevant legislation.
Assignment 1
(COMPLETE ANSWERS)
Semester 1 2025
DUE 25 March 2025
, ACTIVITIES
Maria approaches you for advice. He informs you that his brother, Eric, owes him R24,000 for pool
cleaning services rendered by his company. Maria explains to you that despite various attempts to
get Eric to pay his debts, he has yet to make any payment. Martin is especially upset because he has
heard a rumour that Eric owes money to several people, amongst them a mutual best friend,
Kenneth. Kenneth informed Martin that Eric wrote him a letter stating that he is unable to pay his
debts to him (Kenneth) and asked in the letter whether they could make arrangements to pay him
back in instalments. Martin now wants to know from you whether you can assist him to apply for the
compulsory sequestration of Eric‘s estate. Thabo owes an amount of R2 567 374.00 to his creditors.
Since Thabo's retrenchment by his longstanding employer in March 2024, Thabo has been
experiencing ongoing financial difficulty. He has failed to pay his debts over the past few months, and
since 30 November 2024 his liabilities have exceeded his assets. Maria is one of Thabo's creditors,
who is owed an amount of R320 000 by Thabo. Thabo's debt to Maria was due and payable on 5
January 2025, but Thabo failed to pay the debt. Disappointed at this. Mari a undertook an
investigation into Thabo's financial affairs. She has established that Thabo owns an apartment valued
at R2 250 000 and furniture valued at R300.000. She has also discovered that Thabo had owed his
cousin an amount of R400,000, which was due and payable only on 30 April 2025. and that Thabo
had made an early repayment in full to his cousin on 29 January 2025. Thabo had wanted to ensure
that should one o f his creditors apply for the sequestration of his estate. his family members would
not suffer any financial loss. With the above in mind, d a court order for the iscuss whether Maria is
likely to be successful in an application for sequestration of Thabo's estate. Include in your discussion
the requirements she must prove to succeed with such an application. Explain the conduct above and
refer to relevant legislation.
