MRL3701 Assignment 2 Semester 2 2024 | Due 20 September 2024

Description

MRL3701 Assignment 2 Semester 2 2024 | Due 20 September 2024. All questions were answered with references.

Simphiwe owes a total of R3 million to various creditors. His creditors include Tebogo to whom he owes R400 000. He also owes R1,3 million to BFN Bank. Last year Simphiwe invested in a get-rich-quick scheme and as a result he lost a lot of money. This left him in a dire financial situation. By 31 October 2023 his liabilities exceeded his assets by R800 000. Over the past few months Simphiwe has failed to pay some of his debts. In particular he failed to pay the R400 000
he owes to Tebogo. This debt was due and payable on 1 February 2024. Disappointed at not] having been paid back the R400 000 owed to her, Tebogo undertook an investigation into Simphiwe’s financial situation. The investigation turned up unassailable proof that Simphiwe …….