MRL3701 EXAM QUESTIONS AND ANSWERS NEWEST
RATED A+ 2025/2026 NEW!!
person's - Correct Answers The terms sequestra on and sequestra on 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 inspec on
did not contain the ____ informa on
8(g) - Correct Answers According to sec on ____ of the Insolvency Act, it is an act of
insolvency if a debtor gives no ce in wri ng to a creditor that he is unable to pay one or more
of his debts
wri)en - 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, un l it is ____ by
the trustee
defama on - Correct Answers Sec on 23(8) allows the insolvent to recover for his own
benefit compensa on for any loss or damage which he may have suffered, whether before or
a.er sequestra on of his estate, by reason of ____ or personal injury
tle - 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
,sequestra on - 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 A.er receiving a final sequestra on order the Master must
immediately convene (cause to come together) a _____ mee ng of creditors by no ce in the
gov gaze)e
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 rela ve ground for disqualifica on such a
person cannot be a trustee of a specific insolvent estate. This prohibi on differs from the ____
grounds for disqualifica on where such a person may not be a trustee of any insolvent estate
whatsoever
order of court - Correct Answers the term disposi on does not include a disposi on made in
compliance with an ______
pledge - Correct Answers A valid ____ is cons tuted where there is delivery of movable
property to a creditor on the understanding that it will be retained by him un l his claim has
been sa sfied
two - Correct Answers Interest due on a secured claim for a period not exceeding ____ years
immediately preceding the date of sequestra on is secured as if it were part of the capital sum
, court - Correct Answers The rehabilita on of an insolvent is a ma)er which lies solely within
the discre on 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 ______
sequestra on - Correct Answers Rehabilita on has the effect of pu6ng an end to the _____
unsecured - Correct Answers Employees are "preferred ______ creditors" for unpaid but due
and payable sums of remunera on, reimbursements for expenses or other employment related
money before the business rescue proceedings began
equitable - Correct Answers the main objec ve of a sequestra on order is to secure the just
and ____ distribu on 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 ______ sequestra on order, the Master is obliged
to convene immediately by no ce in the Gaze)e, a first mee ng of creditors of the estate
, abandonment - Correct Answers According to sec on 2 of the Insolvency Act 24 of 1936, the
term 'disposi on' includes , amongst others, a transfer or ______ of rights to property
reten on (or lien) - Correct Answers Broadly speaking, a party (Ben), has a right of ____ over
specific property belonging to anther if he (Ben) has expended labour or incurred expenses in
respect of the property
impeachable - Correct Answers there may be various reasons why an interested person
wishes to apply for an order that automa c rehabilita on should not take place a.er the lapse
of 10 years. It may, for example, happen that only just before the comple on of the 10 year
period the trustee becomes aware of some possible _____ disposi ons
interroga on - Correct Answers A special mee ng may be called for either of the following
purposes: 1) proof of claims and 2) ______ of the insolvent
voidable preferences - Correct Answers In Hendriks NO v Swanepoel 1962, the legal posi on
in respect of ________ was considered
repudiate - Correct Answers If the trustee elects to ____ the contract (or if he is deemed to
have done so), the opposite party is precluded from obtaining an order of specific performance
trader - Correct Answers But the insolvent may not, without the consent in wri ng of his
trustee, carry on, be employed in any capacity in, or have any direct or indirect interest in, the
business of a _______ who is a general dealer or manufacturer
free residue - Correct Answers that por on of the insolvent estate which is not subject to any
right of preference by reason of any special mortgage, legal hypothec, pledge or right of
reten on is also known as the _______
RATED A+ 2025/2026 NEW!!
person's - Correct Answers The terms sequestra on and sequestra on 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 inspec on
did not contain the ____ informa on
8(g) - Correct Answers According to sec on ____ of the Insolvency Act, it is an act of
insolvency if a debtor gives no ce in wri ng to a creditor that he is unable to pay one or more
of his debts
wri)en - 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, un l it is ____ by
the trustee
defama on - Correct Answers Sec on 23(8) allows the insolvent to recover for his own
benefit compensa on for any loss or damage which he may have suffered, whether before or
a.er sequestra on of his estate, by reason of ____ or personal injury
tle - 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
,sequestra on - 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 A.er receiving a final sequestra on order the Master must
immediately convene (cause to come together) a _____ mee ng of creditors by no ce in the
gov gaze)e
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 rela ve ground for disqualifica on such a
person cannot be a trustee of a specific insolvent estate. This prohibi on differs from the ____
grounds for disqualifica on where such a person may not be a trustee of any insolvent estate
whatsoever
order of court - Correct Answers the term disposi on does not include a disposi on made in
compliance with an ______
pledge - Correct Answers A valid ____ is cons tuted where there is delivery of movable
property to a creditor on the understanding that it will be retained by him un l his claim has
been sa sfied
two - Correct Answers Interest due on a secured claim for a period not exceeding ____ years
immediately preceding the date of sequestra on is secured as if it were part of the capital sum
, court - Correct Answers The rehabilita on of an insolvent is a ma)er which lies solely within
the discre on 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 ______
sequestra on - Correct Answers Rehabilita on has the effect of pu6ng an end to the _____
unsecured - Correct Answers Employees are "preferred ______ creditors" for unpaid but due
and payable sums of remunera on, reimbursements for expenses or other employment related
money before the business rescue proceedings began
equitable - Correct Answers the main objec ve of a sequestra on order is to secure the just
and ____ distribu on 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 ______ sequestra on order, the Master is obliged
to convene immediately by no ce in the Gaze)e, a first mee ng of creditors of the estate
, abandonment - Correct Answers According to sec on 2 of the Insolvency Act 24 of 1936, the
term 'disposi on' includes , amongst others, a transfer or ______ of rights to property
reten on (or lien) - Correct Answers Broadly speaking, a party (Ben), has a right of ____ over
specific property belonging to anther if he (Ben) has expended labour or incurred expenses in
respect of the property
impeachable - Correct Answers there may be various reasons why an interested person
wishes to apply for an order that automa c rehabilita on should not take place a.er the lapse
of 10 years. It may, for example, happen that only just before the comple on of the 10 year
period the trustee becomes aware of some possible _____ disposi ons
interroga on - Correct Answers A special mee ng may be called for either of the following
purposes: 1) proof of claims and 2) ______ of the insolvent
voidable preferences - Correct Answers In Hendriks NO v Swanepoel 1962, the legal posi on
in respect of ________ was considered
repudiate - Correct Answers If the trustee elects to ____ the contract (or if he is deemed to
have done so), the opposite party is precluded from obtaining an order of specific performance
trader - Correct Answers But the insolvent may not, without the consent in wri ng of his
trustee, carry on, be employed in any capacity in, or have any direct or indirect interest in, the
business of a _______ who is a general dealer or manufacturer
free residue - Correct Answers that por on of the insolvent estate which is not subject to any
right of preference by reason of any special mortgage, legal hypothec, pledge or right of
reten on is also known as the _______
