,person's - CORRECT ANSWERS-The terms sequestration and sequestration order
should stritly be used only with reference to a ____ estate
personal - CORRECT ANSWERS-In Ex Parte Henning, the statement of affairs that lay
for inspection did not contain the ____ information
8(g) - CORRECT ANSWERS-According to section ____ of the Insolvency Act, it is an
act of insolvency if a debtor gives notice in writing to a creditor that he is unable to pay
one or more of his debts
written - CORRECT ANSWERS-A debtor may not, without the ____ consent of the
trustee enter into a contract which adversely affects his estate
released - CORRECT ANSWERS-The property of the spouse of the insolvent, where
the marriage is out of community of property, also vests in the trustee of the insolvent
estate, until it is ____ by the trustee
defamation - CORRECT ANSWERS-Section 23(8) allows the insolvent to recover for
his own benefit compensation for any loss or damage which he may have suffered,
whether before or after sequestration of his estate, by reason of ____ or personal injury
title - CORRECT ANSWERS-The trustee is obliged to release property which was
acquired by the solvent spouse during her marriage with the insolvent by a valid _____
against creditors of the insolvent
sequestration - CORRECT ANSWERS-The _______ of an employers estate suspends
the employment contract between him and his employees with immediate effect
asset - CORRECT ANSWERS-If the insolvent has carried out his side of the contract
and only the other party's performance is outstanding, the right to that performance is
an ___ in the insolvent estate and vests in the trustee
first - CORRECT ANSWERS-After receiving a final sequestration order the Master must
immediately convene (cause to come together) a _____ meeting of creditors by notice
in the gov gazette
minor child - CORRECT ANSWERS-A nurse who has treated the insolvent's deceased
wife or ____ may have a preferent claim against the insolvent estate if further
requirements are met
, absolute - CORRECT ANSWERS-Note that as a result of a relative ground for
disqualification such a person cannot be a trustee of a specific insolvent estate. This
prohibition differs from the ____ grounds for disqualification where such a person may
not be a trustee of any insolvent estate whatsoever
order of court - CORRECT ANSWERS-the term disposition does not include a
disposition made in compliance with an ______
pledge - CORRECT ANSWERS-A valid ____ is constituted where there is delivery of
movable property to a creditor on the understanding that it will be retained by him until
his claim has been satisfied
two - CORRECT ANSWERS-Interest due on a secured claim for a period not exceeding
____ years immediately preceding the date of sequestration is secured as if it were part
of the capital sum
court - CORRECT ANSWERS-The rehabilitation of an insolvent is a matter which lies
solely within the discretion of the _____
directors - CORRECT ANSWERS-the human beings (the natural persons) who
administer the business of the company are its ______
common law - CORRECT ANSWERS-When a partnership is dissolved because the
estate of one of the partners has been sequestrated, the partnership assets are divided
among the partners in terms of the partnership contract or the ______
sequestration - CORRECT ANSWERS-Rehabilitation has the effect of putting an end to
the _____
unsecured - CORRECT ANSWERS-Employees are "preferred ______ creditors" for
unpaid but due and payable sums of remuneration, reimbursements for expenses or
other employment related money before the business rescue proceedings began
equitable - CORRECT ANSWERS-the main objective of a sequestration order is to
secure the just and ____ distribution of a debtor's assets where they are insufficient to
meet the claims of all his creditors
legislature - CORRECT ANSWERS-the Master is a 'creature of statute' and as such has
only the powers granted to him by the _____
dispose - CORRECT ANSWERS-The debtor may not make a contract which purports to
____ of any property of his insolvent estate
final - CORRECT ANSWERS-On the receipt of a ______ sequestration order, the
Master is obliged to convene immediately by notice in the Gazette, a first meeting of
creditors of the estate
should stritly be used only with reference to a ____ estate
personal - CORRECT ANSWERS-In Ex Parte Henning, the statement of affairs that lay
for inspection did not contain the ____ information
8(g) - CORRECT ANSWERS-According to section ____ of the Insolvency Act, it is an
act of insolvency if a debtor gives notice in writing to a creditor that he is unable to pay
one or more of his debts
written - CORRECT ANSWERS-A debtor may not, without the ____ consent of the
trustee enter into a contract which adversely affects his estate
released - CORRECT ANSWERS-The property of the spouse of the insolvent, where
the marriage is out of community of property, also vests in the trustee of the insolvent
estate, until it is ____ by the trustee
defamation - CORRECT ANSWERS-Section 23(8) allows the insolvent to recover for
his own benefit compensation for any loss or damage which he may have suffered,
whether before or after sequestration of his estate, by reason of ____ or personal injury
title - CORRECT ANSWERS-The trustee is obliged to release property which was
acquired by the solvent spouse during her marriage with the insolvent by a valid _____
against creditors of the insolvent
sequestration - CORRECT ANSWERS-The _______ of an employers estate suspends
the employment contract between him and his employees with immediate effect
asset - CORRECT ANSWERS-If the insolvent has carried out his side of the contract
and only the other party's performance is outstanding, the right to that performance is
an ___ in the insolvent estate and vests in the trustee
first - CORRECT ANSWERS-After receiving a final sequestration order the Master must
immediately convene (cause to come together) a _____ meeting of creditors by notice
in the gov gazette
minor child - CORRECT ANSWERS-A nurse who has treated the insolvent's deceased
wife or ____ may have a preferent claim against the insolvent estate if further
requirements are met
, absolute - CORRECT ANSWERS-Note that as a result of a relative ground for
disqualification such a person cannot be a trustee of a specific insolvent estate. This
prohibition differs from the ____ grounds for disqualification where such a person may
not be a trustee of any insolvent estate whatsoever
order of court - CORRECT ANSWERS-the term disposition does not include a
disposition made in compliance with an ______
pledge - CORRECT ANSWERS-A valid ____ is constituted where there is delivery of
movable property to a creditor on the understanding that it will be retained by him until
his claim has been satisfied
two - CORRECT ANSWERS-Interest due on a secured claim for a period not exceeding
____ years immediately preceding the date of sequestration is secured as if it were part
of the capital sum
court - CORRECT ANSWERS-The rehabilitation of an insolvent is a matter which lies
solely within the discretion of the _____
directors - CORRECT ANSWERS-the human beings (the natural persons) who
administer the business of the company are its ______
common law - CORRECT ANSWERS-When a partnership is dissolved because the
estate of one of the partners has been sequestrated, the partnership assets are divided
among the partners in terms of the partnership contract or the ______
sequestration - CORRECT ANSWERS-Rehabilitation has the effect of putting an end to
the _____
unsecured - CORRECT ANSWERS-Employees are "preferred ______ creditors" for
unpaid but due and payable sums of remuneration, reimbursements for expenses or
other employment related money before the business rescue proceedings began
equitable - CORRECT ANSWERS-the main objective of a sequestration order is to
secure the just and ____ distribution of a debtor's assets where they are insufficient to
meet the claims of all his creditors
legislature - CORRECT ANSWERS-the Master is a 'creature of statute' and as such has
only the powers granted to him by the _____
dispose - CORRECT ANSWERS-The debtor may not make a contract which purports to
____ of any property of his insolvent estate
final - CORRECT ANSWERS-On the receipt of a ______ sequestration order, the
Master is obliged to convene immediately by notice in the Gazette, a first meeting of
creditors of the estate
