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.
12.
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.
13.
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.
14.
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.
15.
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 ).
16.
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.
17.
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 ).
18.
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.
19.
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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