1. Nine months before the administrator was appointed, SAOM sold some of its farmland to Peter for $600,000. A local real estate agent valued the land at the time and the report concluded that the land was worth $750,000. Could this be one or more of the voidable transactions that involves an insolvent transaction?
2. Assume the facts in question 4 are slightly different: Specifically, that (a) NationsBank had a mortgage over the farmland; (b) NationsBank appointed a receiver to enforce its security over the farmland; (c) the receiver arranged the sale of the farmland to Peter for $600,000 (at the same time as the local real estate agent valued the land at $750,000). Might the receiver have breached any duties? And what action could SAOM take?