act of insolvency वाक्य
उदाहरण वाक्य
मोबाइल
- An act of insolvency need not be committed vis-?vis the sequestrating creditor.
- In the court s view, it could not be inferred that Strauss had committed the act of insolvency alleged.
- The court may, therefore, exercise its discretion against sequestration, notwithstanding proof of an act of insolvency and the other requirements.
- He convicted the appellant because he must have been aware, when he left the Union, of the act of insolvency which must have preceded his sequestration.
- An arrangement or an offer qualifies as an act of insolvency in terms of this subsection only if it is indicative of the debtor s inability to pay his debts.
- In the early 1790s extended illnesses among several Chandler family members caused Thomas Chandler, Jr . financial difficulties and he successfully petitioned the state legislature for an Act of Insolvency.
- The words any of his debts should be interpreted as meaning that a debtor commits an act of insolvency if he gives notice of inability to pay any single debt.
- The debtor does not commit this act of insolvency by informing the creditor orally that he cannot pay his debts, although he does provide the creditor with evidence of actual insolvency.
- An offer of a certain amount in the rand, subject to the debtor s being allowed an extension of time to pay the balance, does not amount to an act of insolvency.
- An act of insolvency may be proved and relied upon even though it is contained in a communication that would ordinarily be privileged from disclosure, such as an offer marked without prejudice .
- 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.
- 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.
- A typical example of this act of insolvency is where a debtor writes to a creditor informing him that he is not in a position to pay the debt for the time being, and offers to pay it in instalments.
- A debtor commits the act of insolvency where, for example, he refuses to meet one debt while paying another in full, or sells an asset manifestly below its market value while failing to meet debts that have fallen due.
- If the sheriff, on serving the writ, neglects to demand satisfaction of the writ by the debtor, and thereafter states in his return that he was unable to find sufficient disposable property, no act of insolvency is committed ( Nedbank v Norton ).
- Proof of inability to pay one debt may be accepted as proof that the debtor is unable to pay all his debts, but evidence that the debtor was unwilling or has refused to pay a particular debt is not enough to establish this act of insolvency.
- On the other hand, if the debtor offers a lesser sum in settlement and expressly or by implication admits that he owes the full debt, he commits an act of insolvency, because he tacitly acknowledges that he cannot pay the debt ( Laeveldse Kooperasie Bpk v Joubert ).
- If the debtor offers, by way of settlement, a lesser amount than that claimed, and denies liability altogether, or disputes the amount of the debt, he does not commit an act of insolvency, because it does not appear from his offer that he cannot pay the debt.
- In Abell v Strauss, Abel applied to sequestrate the estate of Strauss, a taxi driver, on the ground that he had committed an act of insolvency in terms of section 8 ( a ), in that he had departed from his dwelling with the intention of evading or delaying the payment of his debts.
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