deck AA (1289-1339) Flashcards
2
DE FACTO CORPORATION IS CREATED BY A
- GOOD FAITH BUT UNSUCCESSFUL ATTEMPT TO INCORPORATE
- UNDER A VALID INCORPORATION STATUTE
4
STOCK PRICES
- PAR VALUE IS SET MINIMUM PRICE AT ISSUANCE AND STOCK MAY NOT BE SOLD FOR LESS THAN THIS.
- NO PAR IS NO MINIMUM PRICE FOR STOCK.
- TREASURY STOCK IS PREVIOUSLY ISSUED AND REAQUIRED AND MAY BE TREATED AS NO PAR.
- MODERNLY, MOSTLY OBSOLETE. CALIFORNIA DOESN’T REQUIRE PAR VALUE.
2
SHAREHOLDER RIGHTS - SHAREHOLDERS WHO DISSENT FROM A PROPOSED FUNDAMENTAL CORPORATE CHANGE
- MAY HAVE RIGHT TO DEMAND CORP PURCHASE THEIR SHARES
- AT FAIR MARKET VALUE
3
AGENT’S REMEDIES FOR PRINCIPAL’S BREACH
- TERMINATE AGENCY RELATIONSHIP
- CONTRACT DAMAGES FOR BREACH
- POSSESSORY LIEN FOR MONEY DUE
1
REMEDY FOR SUBAGENT’S BREACH
- AGENT IS LIABLE TO PRINCIPAL FOR SUBAGENT’S BREACH
4
PARTNERSHIP RIGHTS TO PARTNERSHIP PROPERTY - PROPERTY AQUIRED BY THE PARTNERSHIP
- BELONGS TO THE PARTNERSHIP
- IS NOT CO-OWNED BY PARTNERS
- CANNOT BE TRANSFERRED BY PARTNERS
- CAN ONLY BE USED FOR PARTNERSHIP
3
STRUCTURE OF
LIMITED PARTNERSHIP
- TWO TIERED PARTNERSHIP STRUCTURE
- AT LEAST ONE GENERAL PARTNER
- AT LEAST ONE LIMITED PARTNER
2
SPOUSE MANAGEMENT AND CONTROL OF PERSONAL PROPERTY - OTHER SPOUSE’S WRITTEN CONSENT NEEDED WHERE COMMUNITY PERSONAL PROPERTY IS
- GIFTED
- DISPOSED FOR LESS THAN FAIR AND REASONABLE VALUE
3
SPECIAL CLASSIFICATIONS - SEVERANCE PAY
- CP WHERE REPLACING EARNING DURING THE MARRIAGE
- OR ENHANCE RETIREMENT DURING MARRIAGE
- SP WHERE GIVEN TO REPLACE FUTURE EARNINGS
2
CHEESE IS
- GOOD
- WORTHWHILE
2
ESTOPPEL - GROUNDS FOR CLAIM OF PUTATIVE SPOUSE
- PARTY MAKING ASSERTION KNEW MARRIAGE WAS INVALID
- OR PARTY MAKING ASSERTION KNEW MARRIAGE WAS INVALID AND TREATED IT LIKE IT WAS VALID
3
SPECIAL CLASSIFICATIONS - LIFE INSURANCE - DEVISE OF BENEFITS
- WHERE POLICY IS CP
- DECEDENT MAY ONLY DEVISE 1/2 INTEREST TO BENEFICIARY OTHER THAN SPOUSE
- WITHOUT SPOUSE’S WRITTEN CONSENT
3
POUR OVER WILL - VALIDITY REQUIREMENTS
- WILL IDENTIFIES INTER VIVOS TRUST
- TERMS OF INTER VIVOS TRUST ARE SET FORTH IN INSTRUMENT BESIDES WILL
- INTER VIVOS TRUST WAS EXECUTED CONCURRENTLY OR BEFORE WILL EXECUTION
7
WILL PARAGRAPH
WHY DID EVERYBODY VALIDATE THE CRAPPY FART??
- A WILL IS A WRITTEN INSTRUMENT
- DICTATING HOW A PERSON’S ESTATE IS TO BE DISTRIBUTED UPON DEATH.
- EFFECTIVE UPON THE DEATH OF ITS AUTHOR, THE TESTATOR.
- FOR A WILL TO BE VALID, THERE MUST BE
- PRESENT TESTAMENTARY INTENT,
- CAPACITY.
- AND IT MUST ALSO MEET ALL REQUIRED FORMALITIES.
3
PUNITIVE DAMAGES ONLY AWARDED WHERE DEFENDANT ACTED WITH
- MALICE
- OPPRESSION
- OR FRAUD
2
DEFENSE TO SPECIFIC PERFORMANCE - HARDSHIP/SHARP PRACTICES
- UNEVEN BARGAINING POWER
- CONSIDERATION SO DISPROPORTIONATE IT WOULD SHOCK THE CONSCIENCE
3
REMEDIES FOR ENCROACHMENT
- DAMAGES
- EJECTMENT
- INJUNCTION
6
SPECIFIC PERFORMANCE REQUIREMENTS FOR BREACH OF LAND SALE CONTRACT
(CHOCOLATE CHEESECAKE IS MY FAVORITE DESSERT)
- VALID CONTRACT WITH CERTAIN TERMS CAPABLE OF ENFORCEMENT
- CONDITIONS ON PLAINTIFF HAVE BEEN MET
- INADEQUATE REMEDY AT LAW
- MUTUALITY OF PERFORMANCE
- FEASIBILITY OF ENFORCEMENT
- NO AVAILABLE DEFENSES FOR BREACHING PARTY
3
MORTGAGE - ELEMENTS
- CONVEYANCE OF A SECURITY INTEREST
- IN LAND INTENDED BY THE PARTIES TO BE COLLATERAL
- FOR THE REPAYMENT OF A FINANCIAL OBLIGATION