MRL3701 EXAM PACK ANSWERS AND 2021 BRIEF NOTES

University of South Africa

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MRL3701 EXAM PACK ANSWERS AND 2021 BRIEF NOTES
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    MRL3701 EXAM PACK ANSWERS AND 2021 BRIEF NOTES

  • MRL3701 EXAM PACK ANSWERS AND 2021 BRIEF NOTES.Case Law: NB: Magnum Financial Holdings (Pty) Ltd (in Liquidation) v Summerly and another NNO 1984 (1) SA 160 (W) Meaning of “insolvency” Common meaning – a person is insolvent when he is unable to pay his debts, however, The legal test for insolvency is whether the debtor's liabilities, fairly estimated, exceed his assets, fairly valued. The inability to pay debts Is merely evidence of insolvency. A person who has insufficient assets ...
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MRL3701 EXAM PACK ANSWERS AND 2021 BRIEF NOTES
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    MRL3701 EXAM PACK ANSWERS AND 2021 BRIEF NOTES

  • MRL3701 EXAM PACK ANSWERS AND 2021 BRIEF NOTES.ENCY LAW (MERCANTILE LAW 1 MODULE 3701) Duration : 2 Hours 100 Marks QUESTION 1 Fill in the missing words or word: (a) A debtor’s estate is sequestrated, not the debtor himself. (2) (b) The debtor need not have ordinarily resided or carried on business for the entire 12 months preceding the sequestration application: ordinary residence or conduct of business at any time during that period suffices. (2) (c) Free residue’ is defined in s 2...
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