100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
MRL3701 ASSIGNMENT 1 SEMESTER 1 – 2024 (686262) $2.84   Add to cart
Quickly navigate to
Preview
  2.  
  3. University Of South Africa (Unisa)
  4.  
  5. INSOLVENCY LAW (MRL3701)

Other

MRL3701 ASSIGNMENT 1 SEMESTER 1 – 2024 (686262)

1 review
 26 views  2 purchases
  • Course
  • INSOLVENCY LAW (MRL3701)
  • Institution
  • University Of South Africa (Unisa)
  • Book
  • Hockly\'s Insolvency Law

MRL3701 ASSIGNMENT 1 SEMESTER 1 – 2024 (686262) DUE DATE: 14 MARCH 2024 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 ...

[Show more]
Last document update: 8 months ago

Preview 3 out of 7  pages

Document information

  • March 13, 2024
  • March 13, 2024
  • 7
  • 2023/2024
  • Other
  • Unknown

Subjects

  • mrl3701 assignment 1 semester

Connected book

book image

Book Title:

Author(s):

  • Edition:
  • ISBN:
  • Edition:

More summaries for

  • MRL3701 ASSIGNMENT 2 SEMESTER 2 - 2024
  • MRL3701 ASSIGNMENT 1 FOR SEMESTER 2 OF 2024
  • MRL3701 ASSIGNMENT 1 SEMESTER 2 - 2024
All for this textbook (62)

Written for

  • University of South Africa (Unisa)
  • INSOLVENCY LAW (MRL3701)
All documents for this subject (64)

1  review

review-writer-avatar

By: thembathandi62 • 8 months ago

Seller

avatar-seller
Masters

Reviews received

Content preview

MRL3701
ASSIGNMENT 1
SEMESTER 1
DUE DATE: 14 MARCH

6
2024


"Elevate Your Excellence: Where Distinction Meets Assurance in Every Assignment!"

,MRL3701 ASSIGNMENT 1 SEMESTER 1 – 2024 (686262)
DUE DATE: 14 MARCH 2024




1

, QUESTION 1.
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.
FALSE.
Explanation:
It is considered an act of insolvency by both spouses.


Source: Hockly’s 3.1.2 (i)


In a marriage in community of property, the spouses share a joint estate. This means all
assets and liabilities acquired during the marriage belong to both spouses collectively.
Therefore, any act of insolvency committed by one spouse automatically affects the other
because it affects the entirety of the joint estate.
This principle is outlined in Hockly’s Law of Insolvency, which states that an act of insolvency
committed by a spouse in a marriage in community of property operates as an act of
insolvency by both spouses, and is therefore a good basis for sequestration of the joint
estate.
When one spouse in a community of property marriage commits an act of insolvency, it's
treated as an act of insolvency by both spouses because their estate is treated as one entity
for legal purposes. This has significant consequences, as the entire joint estate becomes
vulnerable to creditors in the event of sequestration (a legal process where assets are
liquidated to settle debts).




2

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

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.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

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

Will I be stuck with a subscription?

No, you only buy these notes for $2.84. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

81298 documents were sold in the last 30 days

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

Start selling
$2.84  2x  sold
  • (1)
  Add to cart