Glossary Part 2 Flashcards
1
Q
Prescription Act, No_ of _
A
No 68
1969
2
Q
When has debt prescribed?
A
- 3 years not been summonsed by CP
- 3 years not acknowledged debt
- no promise or payment been made
3
Q
Customary Marriage
A
In community of property unless antenuptial contractor
4
Q
Divorce: With accrual vs without accrual
A
With: Divide assets after marriage
Without: Keep assets separate
5
Q
Universal Partnerships in case of separation…
A
Divide assets 50-50
6
Q
Consequencee of applying for debt review in COP;
A
- Jointly liable for each other’s debt
- F16: Must have spouse consent
- Not apply for debt review alone
7
Q
Consequence of applying for debt review under ANC?
A
- No joining of debt.
- May apply for debt review on own or with spouse
8
Q
DCS and DCJ
A
Debt Counseling single application
Debt Counseling joint application
9
Q
What happens with C/D?
A
Consumers application for debt review presented to magistrate
10
Q
Implication of a C/O
A
Legalizes debt review application and protects against CPs
11
Q
Court Application results in…
A
Court order
12
Q
Tribunal application results in..
A
Consent order
