Successful sequestration proceedings results in an individual being freed from overwhelming debt obligations, which in turn, enables one to make a “fresh” financial start.
This is however subject to certain conditions, which amongst other things, require that the proceeds obtained from the sale of personal assets, are fairly distributed, by an appointed curator, between all existing creditors.
An estate is the net worth of a person at any point in time. In this sense the life’s work of your loved one, it is the sum of a person's assets – legal rights, interests and entitlements to property of any kind – less all liabilities at that time.
The issue is of special legal significance on a question of bankruptcy and death of the person.
When you’re about to get married the last thing you want to think about is divorce.
But in today’s society, it pays to be aware of these things so allow me to fill you in on a few facts. In July this year, the Divorce Act 70 of 1979 will have been in force for 31 years.
An example of a third party claim is a claim by a person, or the dependants of a person, who received a bodily injury or who died as a result of a motor vehicle accident caused by the negligent driving of a motor vehicle.
Third party claims are made to the Road Accident Fund, which then automatically steps into the shoes of the negligent driver who caused the accident and pays the injured person for any injuries suffered.
When a person begins a civil lawsuit, the person enters into a process called litigation. Under the various rules of Civil Procedure that govern actions in the courts, litigation involves a series of steps that may lead to a court trial and ultimately a resolution of the matter.
Read moreSouth African contract law is "essentially a modernized version of the Roman-Dutch law of contract, which is itself rooted in Roman law. In the broadest definition, a contract is an agreement entered into by two or more parties with the serious intention of creating a legal obligation.
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