deck AE (1493-1543) Flashcards
2
(FOR JUSTICIABILITY) POLTICAL QUESTIONS MEANS THE ISSUE PRESENTED BY THE COURT IS EITHER E
- SO SPECIFIC THAT IT INVOLVES POWER GRANTED EXCLUSIVELY TO A COORDINATE BRANCH OF GOVERNMENT
- OR SO VAGUE THE CONSTITUTION DOES EVEN ADDRESS THE ISSUE
3
CONSIDERATION REQUIRED FOR STOCK SHARES (AT COMMON LAW)
- ANY INTANGIBLE OR TANGIBLE BENEFIT TO CORP
- CANNOT BE FUTURE SERVICES
- CANNOT BE UNSECURED DEBT
2
QUORUM OF BOARD OF DIRECTORS - A QUORUM IS A
- MAJORITY OF THE BOARD
- WHO DOES NOT HAVE INTEREST IN ACTION
2
SHAREHOLDER - VOTING BY PROXY - REVOCABLE VS. IRREVOCABLE
- REVOCABLE PROXY CREATES AGENCY RELATIONSHIP
- IRREVOCABLE PROXY CREATED BY INTEREST OR EXCHANGE OF CONSIDERATION
2
16B GOVERNANCE OF SHORT SWING PROFITS
OFFICERS & DIRECTORS
VS.
10 PERCENT OR MORE SHAREHOLDERS
- OFFICERS & DIRECTORS - IN POSITION AT EITHER TIME OF SALE OR PURCHASE
- 10 PERCENT SHAREHOLDERS - IN POSITION AT BOTH PURCHASE AND SALE
1
TENDER OFFER
- AN OFFER TO PURCHASE A CONTROLLING PERCENTAGE OF SHARES IN A CORPORATION
2
COMMUNITY PROPERTY CONTRIBUTIONS TOWARD A SPOUSE’S SEPARATE PROPERTY - BUSINESS -
WHEN TO USE PEREIRA
- MOST VALUABLE FACTOR OF APPRECIATION WAS SPOUSE’S LABOR
- FAVORS COMMUNITY
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
3
EXHAUSTION METHOD
- FUNDS IN COMMUNITY ACCOUNT DEPLETED
- ONLY FUNDS IN SP ACCOUNT AVAILABLE
- WHEN PROPERTY PURCHASED
2
DIRECT TRACING
- ADVOCATING SPOUSE SHOWS SUFFICIENT SP FUNDS AVAILABLE AT THE TIME OF PROPERTY’S PURCHASE
- AND INTENT TO USE FUNDS TO PURCHASE PROPERTY AS AN SP ASSET
2
VALID WILL - INTERESTED WITNESSES CREATING REBUTTABLE PRESUMPTION OF INTENT IS REBUTTED WHERE
- TWO OTHER DISINTERESTED WITNESSES PRESENT
- WITNESSES ARE PRESENT IN FIDUCIARY CAPACITY
1
FRAUD PREVENTING REVOCATION OF WILL OCCURS WHEN
- FRAUD IS IMPLEMENTED TO PREVENT REVOCATION
2
SUPPORT TRUST ELEMENTS
- DIRECTS TRUSTEE TO MAKE LIMITED DISTRIBUTIONS
- FOR BENEFICIARY’S SUPPORT
4
PURCHASE MONEY RESULTING TRUST ELEMENTS
- BENEFICIARY PAYS CONSIDERATION FOR PROPERTY
- TITLE IS TAKEN IN THE NAME OF THIRD PARTY
- THIRD PARTY BECOMES TRUSTEE
- OF PROPRERTY NOW CONSIDERED TO BE IN PURCHASE MONEY RESULTING TRUST
2
TRUSTEE CAN’T OFFSET LOSSES FOR BREACH
- WHERE ONE BREACH CAUSES LOSS
- AND ANOTHER BREACH CAUSES GAIN
3
EQUITABLE LIEN - WHERE PLAINTIFF TRACES WRONGFUL TAKEN FUNDS TO A COMMINGLED ACCOUNT
- LOWEST INTERMEDIATE BALANCE RULE APPLIES
- PLAINTIFF RECEIVES ACTUAL MONEY OWNED
- SANS INCREASE
2
A LAND SALE CONTRACT DOES NOT CONTAIN THIS IMPLIED WARRANTY
- IMPLIED WARRANTY OF FITNESS
- UNLESS IT IS A NEW HOME BEING SOLD BY THE BUILDER
2
PRIORITY OF LIENS AGAINST PROPERTY
- USUALLY IN CHRONOLOGICAL ORDER
- PURCHASE MONEY MORTGAGE GETS FIRST PRIORITY
1
LIABILITY OF NEW TENANT TO LANDLORD FOR SUBLEASE RENTAL PAYMENTS
- NEW TENANT IS NOT LIABLE TO LANDLORD FOR SUBLEASE RENTAL PAYMENTS BECAUSE NO PRIVITY OF ESTATE.
5
REAL COVENANT - REQUIREMENTS FOR THE BURDEN TO RUN WITH THE LAND
- NOTICE
- INTENT
- TOUCH AND CONCERNS
- VERTICAL PRIVITY
- HORIZONTAL PRIVITY
2
DIVERSITY JURISDICTION AND WORKER’ COMPENSATION CASES
- WORKERS’ COMPENSATION CASES MAY NOT BE REMOVED TO ANY DISTRICT COURT
- DIVERSITY JURISDICTION NOTWITHSTANDING.
1
CROSS-CLAIMS AND COUNTERCLAIMS FOR AGGREGATION OF CLAIMS TO GET TO 75,000 FOR DIVERSITY
- NOT ALLOWED.