True. In South Africa, once a person is declared insolvent, their assets become part of the insolvent estate, and the insolvent individual generally cannot dispose of any property belonging to that estate. However, the insolvent individual may enter into credit agreements under certain circumstances, although this is subject to the limitations set by the Insolvency Act and the conditions of their insolvency status. It's essential to consult legal advice for specific cases and situations.
dispose the insolvent may not dispose of any property of the insolvent estate but may enter into credit agreements in south africa
true or false
1 answer
1 answer