Scenario: Vin Dux is an attorney and partner in the firm Dux and Gin Attorneys. Vin has been hired by a new client, one Joseph Filton in the following matters: .Filton has signed a General Power of Attorney in favour of Vin Dux of Dux and Gin Attorneys authorising Vin to act for him in a number of matters, including buying and mortgaging property, entering into legal contracts and making authorised payments on his behalf. .Vin has, on the instruction of Filton, prepared and executed an Acknowledgement of Debt between Filton and one Sarah Parker, to whom Filton has agreed to pay instalments in the sum of R7000 per month commencing from a specified period for sums borrowed from Ms Parker. .Filton, Filton's cousin Jake, Vin and Sarah have all signed a Deed of Suretyship, at the request of Sarah in respect of Filton's indebtedness to Sarah as per the Acknowledgement of Debt in terms of which Jake and Vin have agreed to stand surety. .Vin has also drafted an Antenuptial Contract for the signature of Filton and his fiance, Nancy Talbot in respect of their upcoming wedding. .Filton has also deposited funds in the trust account of Dux and Gin Attorneys which he intends to use as a deposit towards the purchase of a house. Answer ALL the questions in this section. Question 1 1.1 Explain the type of contract that has been entered into between Filton and Dux by virtue of the (5 marks) General Power of Attorney and how this type of contract will empower Vin to carry out any of Filton's instructions. 1.2 Explain who the parties usually are in this type of contract and what their rights and obligations are. (12 marks) 1.3 Discuss the manner in which this type of contract is formed and the requirements that apply and (13 marks) indicate how the contract between Filton and Vin was formed Question 2 (10 Marks) Vin receives a summons from Sarah demanding payment of Filton's full indebtedness to her in terms of the Suretyship Agreement. Explain the options available to Vin that can be used in defence of this summons Question 3 (5 Marks) Vin contemplates utilising the sum of money held in trust for Filton's property sale to pay Sarah in respect of the Suretyship matter. Furnish your opinion on whether Vin is authorised to utilise the deposit funds to discharge Filton's debt by virtue of the authority granted to him in terms of the General Power of AttorneyQuestion 4 (5 Marks) Vin contacts Filton to inform him about the summons he received. Filton advises that he has found a property he wishes to purchase and asks Vin to proceed with the matter. The sale agreement requires a deposit and the remainder of the purchase price is to be secured by a bond. Explain the differences between a notarial bond and a mortgage bond and explain which type of bond Vin would enter into on Filton's behalf in order to nalise the property sale. Question 5 (50 Marks) Five years later Filton advises Vin that he is tired of having to pay debts. He still owes a signicant sum of money towards his property, however he has been making payments in terms of his obligations and is not in arrears. The house is valued at R2 million, and he still owes R1 5T5 000 on the property. He also owns two cars valued at R600 000 and R250 000 respectively, both of which are fully paid up. He advises that his income is R50 000 a month. His expenses are as follows: R 200 000 R 5000 School fees R 7000 Repayment of loan R 3000 Filton seeks advise on the sequestration process telling Vin that he heard he will be able to get rid of all of his liabilities and debts at a fraction of their value and could become a very rich man afterwards. He also heard he could transfer his assets onto his wife's name and show that he has no assets and should be declared insolvent. Explain what Vin would say to Filton to advise him on sequestration. In your answer elaborate fully on whether Filton will qualify for sequestration. the types of sequestration available and the processes that must be followed. the implications and consequences of sequestration and justify an opinion on the best solution for Filton under the circumstances