Carmencrooney

Exam notes for law of succession

learning unit 4-6

The administration of deceased estates is the process of winding up the affairs/estate of the deceased and ensuring that his testamentary directions are carried out. You will also study the functions of the Master and the Executor of the deceased estate, in the winding up process.

Law of succession LU1-6 Governance and ethics LU1-6

DISTINCTION NOTES LEARNING UNITS 1-6

A mutual Will usually includes massing of estates. This has a direct bearing of the distribution of the estate, more so where the survivor of the Will elects to either repudiate or adiate the benefit. The first theme in this learning unit examines the characteristics and legal consequences of joint wills and mutual wills , when massing comes into effect, the effects of adiation and repudiation on the distribution of the deceased’s estate and the effects of accrual where a beneficiary elects to...

Categories of beneficiaries to who qualify and are disqualified from benefiting from the deceased’s estate. You will also study the contents of a will, which places emphasis on the unlimited freedom of testation of the testator to dispose of his estate as he wishes, resulting in varying contents

The concept of freedom of testation will be examined and whether or not it can be expressed by anyone other than the testator. You will also study the formalities for the execution of a will as provided for in section 2 (1) of the Wills Act 7 of 1953, what are the consequences and possible remedies in the event of non-compliance.

• Distinguish between various important concepts applicable to the law of succession; • Know when the rules of intestate succession come into operation; • Apply the appropriate section of the Intestate Succession Act to any one of the possibilities that may arise in intestate succession.

• What is the law of succession? What are the three types of succession? • What differentiates testate succession from intestate succession? • What is the purpose of the rules of succession? • What is the difference between common law of succession and customary law of succession? • How were the intestate estates of Black persons devolved prior to 1994? • Why is Bhe’s case significant to the law of succession? What is the difference between heirs and legatees? • What are ...

SUMMARIES

ALL LEARNING UNITS FROM 1-6

SUMMARY

concepts of corporate citizenship, responsibility and sustainability and discuss the importance of ethical leadership in South African companies.

The underlying principles of good corporate governance extend to state-owned entities (SOEs) as well as listed companies. South Africa’s SOEs play a critical role in the country’s finances, as their successes or failures heavily impact the South African economy. However, in recent years many SOEs have become synonymous with corrupt activities and have been marred by exceptionally poor governance that have led to financial ruin. Additionally, SOEs also impact the success of companies listed ...

the role of shareholders in a company, examine the function of the governing body and the duties and liabilities of individual directors and company officers.

the international framework for corporate governance, the Companies Act, King IV and the JSE Listing Requirements, as well as the extent to which these instruments incorporate corporate governance principles and how they interact with one another. Furthermore, we will briefly explore transformative constitutionalism within the South African regulatory framework of corporate governance.

the concept of corporate governance and its importance, briefly explore specific corporate governance concepts, and discuss business ethics and ethical leadership in the South African context.

LU 4 - CHAPTER 12-13 Concept of transparency and reporting as it pertains to corporate governance practices and risk management.