deck 0 (718-768) Flashcards
2
PIERCING THE CORPORATE VEIL CAUSES - FRAUD - CORP WAS FORMED
- TO COMMIT FRAUD
- TO SHIELD SHAREHOLDERS FROM EXISTING OBLIGATIONS
1
PIERCING THE CORPORATE VEIL - ESTOPPEL
- DIRECTOR/OFFICER MADE A REPRESENTATION OF PERSONAL LIABILITY FOR CORPORATE DEBTS
4
PRIORITY OF DIVIDEND DISTRIBUTION
- PREFERRED WITH DIVIDEND PREFERENCE
- PREFERRED AND PARTICIPATING
- PREFERRED AND CUMULATIVE
- COMMON STOCK
4
RESTRICTIONS ON SELLING CONTROLLING PERCENTAGE OF CORPORATE SHARES - SHARES MUST NOT BE SOLD TO
- LOOTERS
- THOSE WHOSE INTENT TO HARM CORP SHOULD BE KNOWN.
4
REQUIREMENTS OF DISSENTING SHAREHOLDER TO BE COMPENSATED FOR SHARES
- NOTICE OBJECTION TO CHANGE AND INTENT TO DEMAND PAYMENT
- DELIVER WRITTEN NOTICE
- CANNOT VOTE IN FAVOR OF CHANGE
- DEMAND PAYMENT IN WRITING
1
TRANSMUTATION
- CHANGE THE PROPERTY CHARACTERIZATION OF AN ASSET
2
JUDICIAL TREATMENT OF PUTATIVE SPOUSE - JURISDICITONAL SPLIT
- WHERE ONLY ONE SPOUSE HAS A GOOD FAITH BELIEF THAT A VOID OR VOIDABLE MARRIAGE WAS VALID, SOME JURISDICTIONS WILL TREAT BOTH SPOUSES AS PUTATIVE SPOUSES (INCLUDES CA)
- SOME JURISDICTIONS WILL TREAT ONLY THE SPOUSE WITH THE GOOD FAITH BELIEF OF THE MARRIAGE’S VALIDITY AS THE PUTATIVE SPOUSE
2
DISTRIBUTION OF ASSETS AT DEATH - SPOUSES’ RIGHTS TO QCP
- DECEDENT DOES NOT HAVE 1/2 INTEREST IN SURVIVING SPOUSES QCP
- SURVIVING SPOUSE DOES HAVE 1/2 INTEREST IN DECEDENT’S QCP
1
HOLGRAPHIC WILL
- SIGNATURE AND AT LEAST MATERIAL PROVISIONS IN TESTATOR’S HANDWRITING
2
FRAUD IN THE INDUCEMENT OCCURS WHEN AND CONSEQUENCE
- TESTATOR INFLUENCED TO INCLUDE PROVISIONS IN WILL BY MISREPRESENTATIONS
- ONLY FRAUDULENT PROVISIONS WILL BE FOUND INVALID
3
INTESTATE SUCCESSION - SEPARATE PROPERTY
- IF ONLY SPOUSE SURVIVING - SPOUSE TAKES ALL
- IF ONE CHILD, OR SIBLING, OR PARENT - SPOUSE TAKES HALF
- IF MULTIPLE CHILDREN OR SIBLINGS, SPOUSE TAKES 1/3
2
TRUSTEE NAMING REQUIREMENTS OF A TRUST
- TRUSTEE NEED NOT BE NAMED
- COURT WILL APPOINT TRUSTEE WHERE TRUST DOES NOT NAME ONE
8
DUTES OF TRUSTEE
- DUTY TO ACCOUNT AND INFORM
- DUTY OF DUE CARE
- DUTY OF IMPARTIALITY BETWEEN CLASSES OF BENEFICIARIES
- DUTY TO SEGREGATE AND EARMARK TRUST FUNDS
- DUTY OF LOYALTY
- DUTY TO PRUDENTLY INVEST TO MAKE PROPERTY PRODUCTIVE
- DUTY TO DEFEND
- DUTY TO ENFORCE
2
TRO REQUIRES A SHOWING OF
- IRREPERABLE HARM DURING WAITING PERIOD FOR INJUNCTION
- IF TRO NOT GRANTED
3
PRELIMINARY INJUNCTION REQUIRES A SHOWING OF
- NEED OF MAINTAINING STATUS QUO PRIOR TO TRIAL
- BALANCING OF HARDSHIPS IN FAVOR OF GRANTING INJUNCTION
- LIKELIHOOD OF SUCCESS OF MERITS ON UNDERLYING CLAIM
2
MUTUALITY OF PERFORMANCE REQUIREMENT FOR SPECIFIC PERFORMANCE AND COMMON LAW/MODERN DIFFERENCES
- AT COMMON LAW, COURTS REQUIRED MUTUALITY OF REMEDY
- MODERNLY, COURTS ONLY REQUIRE MUTUALITY OF PERFORMANCE
2
ADVERSE POSSESSION - ACTUAL AND EXCLUSIVE REQUIREMENTS
- ACTUAL - OCCUPIER MADE USE OF THE LAND IN THE SAME MANNER THAT A TYPICAL USER OF SUCH LAND WOULD
- EXCLUSIVE - OCCUPIER MAY NOT SHARE LAND WITH OWNER OR PUBLIC
2
MANIFESTATIONS OF GRANTOR’S INTENT TO MAKE DEED PRESENTLY EFFECTIVE
- RECORDING OF DEED
- GRANTOR GIVES GRANTEE DEED
4
LANDLORD/TENANT QUESTIONS - ORDER OF LANDLORD STRING
- RELATIONSHIP BETWEEN SUCCESSIVE LANDLORDS
- DEEDS OF TRANSFER
- PRIVITY BETWEEN CURRENT LANDLORD AND TENANT
- DUTIES OWED