100% de satisfacción garantizada Inmediatamente disponible después del pago Tanto en línea como en PDF No estas atado a nada
logo-home
Buscado previamente por ti
Buscado previamente por ti
logo
Summary Mercantile 312 (Insolvency) -- exam pass package (4-7) $8.86   Añadir al carrito
Navegar rápidamente a
Vista previa
  2.  
  3. Stellenbosch University (SUN)
  4.  
  5. Mercantile Law 312 - Law Of Insolvency

Resumen

Summary Mercantile 312 (Insolvency) -- exam pass package (4-7)
 9 vistas  0 compra
  • Grado
  • Mercantile Law 312 - Law Of Insolvency
  • Institución
  • Stellenbosch University (SUN)

The beginning of each chapter shows the slides, class notes, textbook additions and self-study material. This includes full case summaries. At the end of each chapter there is a SUMMARY of all the work in the chapter (revision/lists) with a list of ALL the prescribed and non-prescribed cases an...

[Mostrar más]

Vista previa 4 fuera de 306  páginas

Información del documento

  • 11 de junio de 2022
  • 306
  • 2021/2022
  • Resumen

Temas

  • insolvency
  • insolvency law
  • mercantile law 312
  • prescribed cases
  • prescribed articles

Escuela, estudio y materia

  • Stellenbosch University (SUN)
  • Mercantile Law 312 - Law Of Insolvency
Todos documentos para esta materia (12)

Vendedor

avatar-seller
woracori

Comentarios recibidos

Vista previa del contenido

,
, 󾠱
The legal position of the
insolvent

1. Introduction
Presumed from here out - a sequestration order has been granted
(voluntarily or compulsory doesn't matter)

Assumed that all requirements have been met

Sequestration of estate curtails certain things

1. Contract-making

2. Earning a livelihood

3. Legal proceedings

4. Holding office

⏬
2. Contracting
2.1. Prohibited contracts
General

Contractual capacity is restricted to a certain degree — s23(2) of IA

Generally - IA doesn't deprive a debtor of their contractual capacity,
generally speaking

Therefore, general competency to make binding agreements

But, there are restrictions in terms of s23(2) to provide a safeguard to
creditors

**WL Carroll & Co v Ray Hall Motors 1975

Facts:


The legal position of the insolvent 1

, Appellant, chartered accountant, instituted an action for
payment of R1000 due in respect of services rendered by the
respondent

LQ:

(dealt with later)

Courts:

Confirms the position of S23(2)

Section 23(2) of Insolvency Act

Section 23(2)




So s23(2) says that the fact that a person enters into any contract
with the insolvent won’t be affected by the validity provided it wasn’t
done to dispose property from the insolvent estate AND provided
there is no contract regarding any contribution towards the estate
which they are obliged or is likely to be adversely effected

Subject to subsection 1 of s24

NB

Generally an insolvent can enter into a contract

But there are certain contracts that they are not allowed to enter
into

3 prohibited contracts

Falls within the provisos of s23(2)

Contracts

Illustration




The legal position of the insolvent 2

Los beneficios de comprar resúmenes en Stuvia estan en línea:

Garantiza la calidad de los comentarios

Garantiza la calidad de los comentarios

Compradores de Stuvia evaluaron más de 700.000 resúmenes. Así estas seguro que compras los mejores documentos!

Compra fácil y rápido

Compra fácil y rápido

Puedes pagar rápidamente y en una vez con iDeal, tarjeta de crédito o con tu crédito de Stuvia. Sin tener que hacerte miembro.

Enfócate en lo más importante

Enfócate en lo más importante

Tus compañeros escriben los resúmenes. Por eso tienes la seguridad que tienes un resumen actual y confiable. Así llegas a la conclusión rapidamente!

Preguntas frecuentes

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

100% de satisfacción garantizada: ¿Cómo funciona?

Nuestra garantía de satisfacción le asegura que siempre encontrará un documento de estudio a tu medida. Tu rellenas un formulario y nuestro equipo de atención al cliente se encarga del resto.

Who am I buying this summary from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller woracori. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy this summary for $8.86. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

45,681 summaries were sold in the last 30 days

Founded in 2010, the go-to place to buy summaries for 14 years now

Empieza a vender
$8.86
  • (0)
  Añadir