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Difference between revisions of "Creditors' Remedies against Debtors (10:III)"
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Creditors' Remedies against Debtors (10:III) (view source)
Revision as of 23:35, 17 August 2019
, 23:35, 17 August 2019→3. Exemptions from Seizure
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'''Sections 71(2) and (3) set out three exceptions to the personal property exemptions provided in s 71(1) of the ''COEA'':''' | '''Sections 71(2) and (3) set out three exceptions to the personal property exemptions provided in s 71(1) of the ''COEA'':''' | ||
*a) the debtor cannot exempt goods identical to the goods that were the subject of the contract in question; | *a) the debtor cannot exempt goods identical to the goods that were the subject of the contract in question; | ||
*b) a trader cannot claim any goods that are part of their stock-in-trades | *b) a trader cannot claim any goods that are part of their stock-in-trades; and | ||
*c) Corporate debtors cannot avail themselves of the personal property exemption. | *c) Corporate debtors cannot avail themselves of the personal property exemption. | ||