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MRL3701 ASSIGNMENT 1 MEMO - SEMESTER 1 - 2024 - UNISA – DUE DATE: - 14 MARCH 2024 (INCLUDES FOOTNOTES AND BIBLIOGRAPHY)

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  • Course
  • Insolvency Law (MRL3701)
  • Institution
  • University Of South Africa (Unisa)
  • Book
  • Hockly\'s Insolvency Law

MRL3701 ASSIGNMENT 1 MEMO - SEMESTER 1 - 2024 - UNISA – DUE DATE: - 14 MARCH 2024 (INCLUDES FOOTNOTES AND BIBLIOGRAPHY) Assessment 01: Question 1: (5 marks) Indicate whether the following statements are TRUE (T) or FALSE (F) and provide a reason or explanation for your answer. a. An act...

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  • January 29, 2024
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SEMESTER 1 2024 UNISA

MRL3701 INSOLVENCY LAW



ASSIGNMENT 1
DETAILED MEMO WITH BIBLIOGRAPHY AND/OR FOOTNOTES.
DUE DATE: - 14 MARCH 2024
UNIQUE NUMBER: - 686262

, Assessment 01: Question 1: (5 marks)



Indicate whether the following statements are TRUE (T) or FALSE (F) and provide a
reason or explanation for your answer.



a. An act of insolvency committed by a spouse married in community of property
operates as an act of insolvency by the guilty spouse.



b. During the period of insolvency, an insolvent is not allowed to acquire a new estate.



c. The insolvent may recover for his own benefit any pension to which he may be
entitled as this forms part of property that does not fall into the insolvent estate.



d. An insolvent who brings an action in the Magistrate’s Court is obliged by Rule
62(1)(b) of the Magistrate’s Court Rules to give security for the costs of the action if the
defendant requests it.



e. A debtor who has no assets and only liabilities can surrender his estate. (5)



a. TRUE –

An act of insolvency committed by a spouse married in community of property operates as
an act of insolvency by the guilty spouse. In a community of property marriage, the financial
affairs of both spouses are intertwined, and an act of insolvency by one spouse affects the
joint estate.1




1
Insolvency Act 24 of 1936

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