Reference no: EM131104877

Assignment 01

1. The term "debtor" includes a natural person but not a partnership. (See chapter 1.) (2)

2. One of the most important functions which the Master exercises is the custody of all documents relating to insolvent estates. (See chapter 1.) (2)

3. Subject to certain exceptions flowing from the Insolvency Act 24 of 1936 and from other enactments, the insolvent estate comprises all property of the insolvent at the date of sequestration, but it does not include property in the hands of the sheriff under a writ of attachment. (See chapter 5.) (2)

4. On the receipt of a final sequestration order, the Trustee is obliged to convene immediately, by notice in the Gazette, a first meeting of creditors of the estate. (See chapter 9.) (2)

5. In terms of s 29(1), the court can set aside a disposition made by the insolvent not more than six months before the sequestration of his estate or his death if the disposition had the effect of preferring one of his creditors above another and immediately after the disposition was made, the liabilities of the insolvent exceeded the value of his assets. (See chapter 12.)