Answered

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Alice approaches you for advice. she informs you that she owes many people a lot of money and wishes to apply for Her own voluntary surrender. she asks if you could perhaps, as her best friend, help her to write a formal letter to give to her brother, stating that she can no longer pay her debts to him. discuss what this action above is called and refer to a relevant legislation. also advise alice as to whether she will succeed in her action to apply for voluntary surrender.​

Sagot :

ogorwyne

The action that is described in this question regarding the voluntary surrender is what is called insolvency.

What is insolvency?

This is a term that is used to refer to the situation that may exist where individuals or businesses may find it difficult to pay off the debts that they owe.

To write the letter, you would have to state the reasons why she is unable to pay off the debt. Also you would have to write the new date that she can pay off what she owes.

Read more on insolvency here: https://brainly.com/question/24324784

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