MRL3701
Assignment 1 Semester 1 2025
Detailed Solutions, References & Explanations
Unique number:
Due Date: 25 March 2025
QUESTION 1 (3 ANSWERS PROVIDED)
For Maria to succeed in her application, she must satisfy the court that she has locus standi,
that Thabo has committed an act of insolvency or is factually insolvent, and that sequestration
will be to the advantage of the creditors.
Maria’s Locus Standi as a Creditor
Section 9(1) of the Insolvency Act 24 of 1936 provides that a creditor with a liquidated claim
exceeding R100.00 is entitled to apply for the sequestration of a debtor’s estate. In this case,
Maria is owed R320,000, which is a liquidated claim as it is a fixed and determinable sum of
money arising from an agreement that became due on 5 January 2025. Since the debt was
due and payable, but Thabo failed to settle it, Maria qualifies as a creditor with standing to
bring the sequestration application. Terms of use
By making use of this document you agree to:
Use this document as a guide for learning, comparison and reference purpose,
Terms of use
Not to duplicate, reproduce and/or misrepresent the contents of this document as your own work,
By making use of this document you agree to:
Use this document
Fully accept the consequences
solely as a guide forshould you plagiarise
learning, reference,or and
misuse this document.
comparison purposes,
Ensure originality of your own work, and fully accept the consequences should you plagiarise or misuse this document.
Comply with all relevant standards, guidelines, regulations, and legislation governing academic and written work.
Disclaimer
Great care has been taken in the preparation of this document; however, the contents are provided "as is" without any express or
implied representations or warranties. The author accepts no responsibility or liability for any actions taken based on the
information contained within this document. This document is intended solely for comparison, research, and reference purposes.
Reproduction, resale, or transmission of any part of this document, in any form or by any means, is strictly prohibited.
Assignment 1 Semester 1 2025
Detailed Solutions, References & Explanations
Unique number:
Due Date: 25 March 2025
QUESTION 1 (3 ANSWERS PROVIDED)
For Maria to succeed in her application, she must satisfy the court that she has locus standi,
that Thabo has committed an act of insolvency or is factually insolvent, and that sequestration
will be to the advantage of the creditors.
Maria’s Locus Standi as a Creditor
Section 9(1) of the Insolvency Act 24 of 1936 provides that a creditor with a liquidated claim
exceeding R100.00 is entitled to apply for the sequestration of a debtor’s estate. In this case,
Maria is owed R320,000, which is a liquidated claim as it is a fixed and determinable sum of
money arising from an agreement that became due on 5 January 2025. Since the debt was
due and payable, but Thabo failed to settle it, Maria qualifies as a creditor with standing to
bring the sequestration application. Terms of use
By making use of this document you agree to:
Use this document as a guide for learning, comparison and reference purpose,
Terms of use
Not to duplicate, reproduce and/or misrepresent the contents of this document as your own work,
By making use of this document you agree to:
Use this document
Fully accept the consequences
solely as a guide forshould you plagiarise
learning, reference,or and
misuse this document.
comparison purposes,
Ensure originality of your own work, and fully accept the consequences should you plagiarise or misuse this document.
Comply with all relevant standards, guidelines, regulations, and legislation governing academic and written work.
Disclaimer
Great care has been taken in the preparation of this document; however, the contents are provided "as is" without any express or
implied representations or warranties. The author accepts no responsibility or liability for any actions taken based on the
information contained within this document. This document is intended solely for comparison, research, and reference purposes.
Reproduction, resale, or transmission of any part of this document, in any form or by any means, is strictly prohibited.
