deck AB (1340-1390) Flashcards
2
DUTY OF TRADING INSIDER
- DISCLOSE MATERIAL NON-PUBLIC INFO
- OR REFRAIN FROM TRADING
2
LIABILITY OF INCOMING PARTNERS
- NEW PARTNERS ARE NOT LIABLE FOR OLD DEBTS
- NEW PARTNER’S CAPITAL INVESTMENT CAN BE USED TO PAY FOR OLD DEBTS
2
SHAREHOLDER - CREATION OF A PROXY
- SHAREHOLDER ISSUES A SIGNED WRITING
- TO HAVE ANOTHER VOTE ON HIS/HER BEHALF
5
SP EXPENDITURES MADE TO BENEFIT CP REAL PROPERTY - LUCAS
- PRE 1984
- OR AFTER DEATH
- PROPERTY HELD JOINTLY PRESUMED CP
- UNLESS AGREEMENT TO CONTRARY
- NO REIMBURSEMENT OF SP USED FOR CP
1
SOCKS GO ON YOUR
FEET
3
SPECIAL CLASSIFICATIONS - BONUSES
- BASED ON WHEN EARNED
- EARNED AFTER SEPARATION - SP
- EARNED DURING MARRIAGE - CP
6
COMMUNITY PROPERTY CONTRIBUTIONS TOWARD A SPOUSE’S SEPARATE PROPERTY - BUSINESS -
PEREIRA FORMULA (PSP)
- START WITH ORIGINAL SP INVESTMENT
- MULTIPLY BY FAIR RATE OF RETURN (10 PERCENT)
- MULTIPLY THIS NUMBER BY THE NUMBER OF YEARS THE INVESTMENT HELD WHILE MARRIED
- ADD THIS NUMBER TO ORIGINAL SP INVESTMENT
- RESULT IS SEPARATE PROPERTY
- SUBTRACT RESULT FROM VALUE OF BUSINESS AT DISSOLUTION AND THIS RESULT IS COMMUNITY PROPERTY
5
COMMUNITY PROPERTY CONTRIBUTIONS TOWARD A SPOUSE’S SEPARATE PROPERTY - BUSINESS -
VAN CAMP FORMULA
- START SALARY FOR SPOUSE (REASONABLE MARKET RATE)
- MULTIPLY THIS BY YEARS BUSINESS OPERATED DURING MARRIAGE
- DEDUCT COMMUNITY EXPENSES PAID WITH BUSINESS FUNDS
- RESULT IS COMMUNITY PROPERTY
- REMAINDER IS MANAGING SPOUSE’S SEPARATE PROPERTY
3
COMMUNITY PROPERTY ESSAY STRUCTURE (ROTH’S)
- INTRO
- GENERAL RULES
- ASSETS
6
ORDER OF GIFT ABATEMENT - FIRST ABATED TO LAST ABATED
- PROPERTY NOT DISPOSED OF IN WILL
- RESIDUARY GIFTS
- GENERAL GIFTS TO NONRELATIVES
- GENERAL GIFTS TO RELATIVES
- SPECIFIC GIFTS TO NONRELATIVES
- SPECIFIC GIFTS TO RELATIVES
3
DUTY OF DUE CARE OF TRUSTEE -ELEMENTS
- DUTY TO INVESTIGATE INVESTIMENTS
- DUTY TO DIVERSIFY INVESTMENTS
- DUTY TO ACT AS A REASONABLY PRUDENT PERSON WOULD IN HIS OWN AFFAIRS
3
REMAINDERMEN’S RIGHTS AND DUTIES
- RECEIVE PRINCIPAL FROM NET PROCEEDS OF AN ASSET’S SALE
- PAY PRINCIPAL PART OF LOANS
- PAY FOR MAJOR REPAIRS
1
THE CAPITAL OF WYOMING IS
CHEYENNE
2
RELIANCE DAMAGES AWARD PLAINTIFF THE COST
- OF HIS PERFORMANCE
2
NOMINAL DAMAGES FOR CONTRACT BREACH
- DECLARATION THAT CONTRACT WAS BREACHED
- PLAINTIFF DID NOT SUFFER ACTUAL LOSS FROM BREACH
2
PUNITIVE DAMAGES
- NOT AWARDED FOR BREACH
- UNLESS RELATED TO AN INDEPENDENT TORT
2
ADVERSE POSSESSION - OPEN AND NOTORIOUS REQUIREMENTS - OCCUPATION MUST BE SUFFICIENT TO
- BE VISIBLE OR APPARENT
- PUT THE TRUE OWNER OF PROPERTY ON NOTICE OF TRESPASS
2
IMPLIED COVENANTS OF LAND SALE CONTRACT - SELLER PROMISES TO:
- PROVIDE MARKETABLE TITLE AT THE END OF CLOSING
- NOT MAKE ANY FALSE STATEMENT OF MATERIAL FACT REGARDING TITLE
4
GLOVES GO ON
HANDS
3
TYPES OF NOTICE FOR RECORDING ACT STATUTES
- ACTUAL
- CONSTRUCTIVE/RECORD
- INQUIRY