Voidable preference Study guides, Study notes & Summaries

MRL3701 - STUDY UNIT 15 - VOIDABLE AND UNDUE PREFERENCE, COLLUSIVE DEALINGS AND THE ACTIO PAULIANA

MRL3701 INSOLVENCY LAW PAST EXAM PACK QUESTIONS AND ANSWERS SUMMARISED NOTES S - The study-notes marketplace MRL 3701 OCTOBER/NOVEMBER 2018 QUESTION 1 a) Inability to pay debts is, at most merely evidence of insolvency. (page 3) b) Brenda’s application for voluntary surrender must be set out the causes of her insolvency in some detail to enable the court to determine whether the application is ......................... c) Christopher commits an act of insolvency by depar...

DISPOSITION WHICH PREFERS ONE CREDITOR ABOVE ANOTHER :VOIDAABLE PREFERENCE Correct Answer What must be proved: I.t.o. Se 29(1) court may set aside a disposition made by the insolvent not more than 6 months before the sequestration of his estate or his death (where he is deceased and estate in insolvent) if disposition had the effect of preferring one of the insolvent's creditors above another and immediately after the disposition was made, the liabilities of the insolvent exceeded the value ...

LAW OF CONTRACT NOTES: Contract as an agreement intended to create enforceable obligations A contract is an agreement between two or more parties. The extra ingredient that distinguishes contracts from non-binding agreements is a serious intention to create legally enforceable obligations (animus contrahendi). The absence of an animus contrahendi explains why ‘gentlemen’s agreements’ are not enforceable as contracts. Legally binding agreements that are not contracts: The ...

What authority originates from the U.S. Constitution and relates to protection of health and welfare of citizens at local levels? A) Situs B) Community protection power C) Escheat D) Police power - D) Police power Police power - The authority of government to protect the property, life, health, and welfare of its citizens. Situs refers to prospective buyers' preference for a certain area. Escheat provides for a government, normally a state government, to take the property of an ow...

MIE 305 Final Exam Latest Update with Verified Solutions Contract a promise or set of promises supported by the exchange of bargained-for consideration for the breach of which the law gives a remedy, or the performance of which the law recognizes as an enforceable duty. "a promise or set of promises that are enforceable in court." primarily state based common law contract elements -Agreement: the parties agree to the exchange of legal detriment as to each other -Bargained-for con...

INSOLVENCY LAW_ MRL3701 SUMMARY NOTES WITH QUESTIONS. Study unit 1: Introduction to Insolvency Law Case Law: NB: Magnum Financial Holdings (Pty) Ltd (in Liquidation) v Summerly and another NNO 1984 (1) SA 160 (W) Meaning of “insolvency” Common meaning – a person is insolvent when he is unable to pay his debts, however, The legal test for insolvency is whether the debtor's liabilities, fairly estimated, exceed his assets, fairly valued. The inability to pay debts Is merely eviden...

Contracts with a person who lacks mental capacity can be - either void or voidable Community property is a concept of - Spanish law, and marriage is regarded as a partnership. Intermediary Without Appointments. - an agent will have the opportunity to sell their own listing. Oil and gas companies employ - a large number of individuals with a real estate background. The NFIP - offers flood insurance The NFIP offers flood insurance to - homeowners, renters, and business owners The vast majori...

MRL3701 EXAM PACK ANSWERS AND 2021 BRIEF NOTES.ENCY LAW (MERCANTILE LAW 1 MODULE 3701) Duration : 2 Hours 100 Marks QUESTION 1 Fill in the missing words or word: (a) A debtor’s estate is sequestrated, not the debtor himself. (2) (b) The debtor need not have ordinarily resided or carried on business for the entire 12 months preceding the sequestration application: ordinary residence or conduct of business at any time during that period suffices. (2) (c) Free residue’ is defined in s 2...

INSOLVENCY LAW_ MRL3701 SUMMARY NOTES WITH QUESTIONS LATEST UPDATE 2024 100% VERIFIED AND GRADED A+ TABLE OF CONTENTS: STUDY UNIT 1 INTRODUCTION TO INSOLVENCY LAW 4 STUDY UNIT 2 – 3 VOLUNTARY SURRENDER 10 STUDY UNIT 4 – 5 COMPULSORY SEQUESTRATION 20 STUDY UNIT 6 THE LEGAL POSITION OF THE INSOLVENT 35 STUDY UNIT 7 VESTING OF THE ASSETS OF THE INSOLVENT 43 STUDY UNIT 8 VESTING OF THE ASSETS OF THE SOLVENT SOUSE 50 STUDY UNIT 9 – 11 UNCOM...