deck B (51-100) Flashcards
3
ULTRA VIRES ACTS
- ACTS OUTSIDE THE CORPORATION’S REGISTERED PURPOSE
- MODERNLY, GENERALLY NOT ENFORCEABLE
- SHAREHOLDER MAY ENJOIN (FACT PATTERN REALITY)
4
WHO ARE CORPORATE INSIDERS?
- OFFICERS
- DIRECTORS
- SHAREHOLDERS
- THOSE WITH MATERIAL, CONFIDENTIAL INFORMATION ABOUT CORPORATION.
3
TIPPEES ARE LIABLE WHERE TIPEE
- HAD SCIENTER
- KNEW TIPPER BREACHED FIDUCIARY DUTY
- AND TRADED ON INFORMATION ANYWAY
2
SARBANES-OXLEY ACT - THE PCOAB IS
- AN INDEPENDENT BOARD
- OVERSEEING PUBLIC ACCOUNTING FIRMS
3
AFTER BOARD ADOPTS A RESOLUTION TO MAKE FUNDAMENTAL STRUCTURE CHANGE OF CORP, THE PROCESS OF SHAREHOLDER APPROVAL OF CHANGE IS ACCOMPLISHED BY
- WRITTEN NOTICE TO SHAREHOLDERS OF PROPOSED RESOLUTION
- SHAREHOLDERS APPROVE BY A MAJORITY OF ALL VOTES ENTITLED TO BE CAST
3
AGENT MAY BE PERSONALLY LIABLE WHERE AGENT
- ACTS W/NO AUTHORITY
- DOESN’T DISCLOSE PRINCIPAL’S IDENTITY (PLAINTIFF HAS RIGHT OF ELECTION)
- DOESN’T DISCLOSE EXISTENCE OF A PRINCIPAL OR PRINCIPAL’S IDENTITY (PLAINTIFF HAS RIGHT OF ELECTION)
3
(CORPORATIONS) SECURITY INSTRUMENT IS A
- FINANCIAL INTEREST
- IN PROFITS
- MADE BY THE ACTS OF OTHERS
1
SOCKS
ARE GOOD FOR YOUR FEET
2
RECOGNIZING MARRIAGES FROM OTHER JURISDICTIONS
- CA WILL RECOGNIZE MARRIAGE
- WHERE MARRIAGE IS VALID IN THE JURISDICTION OF ORIGIN
2
EARNINGS AND ACCUMULATIONS ARE DEEMED SEPARATE PROPERTY WHERE
- LIVING APART AND SEPARATE FROM OTHER SPOUSE WITH NO CHILDREN
- LEGAL SEPARATION
3
FIDUCIARY DUTIES OWED BY SPOUSES - FULL DISCLOSURE OF MATERIAL FACTS - WHAT SPOUSES MUST DISCLOSE AND DO
- COMMUNITY ASSETS
- COMMUNITY DEBTS
- PROVIDE EQUAL ACCESS TO THIS INFORMATION
2
DISTRIBUTION OF ASSETS AT DIVORCE - REAL PROPERTY OUTSIDE OF CALIFORNIA - COURT MAY
- REQUIRE CONVEYANCE REAL PROPERTY OR
- AWARD EQUIVALENT MONEY VALUE OF REAL PROPERTY TO SPOUSE WHO WOULD HAVE BENEFITTED FROM CONVEYANCE
3
TRANSMUTATIONS MADE ON OR AFTER 1985
- AN EXPRESS DECLARATION
- BY SPOUSE ADVERSELY AFFECTED
- MADE IN WRITING
1
MY DOG HAS
- FLEAS
2
APPRECIATION OF COMMUNITY BUSINESS AFTER SEPARATION -
REVERSE VAN CAMP ELEMENTS
- MANAGING PARTNER CONTINUES TO WORK AT COMMUNITY BUSINESS
- CHARACTER OF BUSINESS CAUSES APPRECIATION
4
UNDUE INFLUENCE TRIGGERS - TESTATOR EXECUTES A WILL AND
- LEAVES UNNATURAL DISPOSITION OF PROPERTY
- BENEFICIARIES OF DISPOSITION HAD AN OPPORTUNITY TO INFLUENCE AND
- TESTATOR WAS SUSCEPTIBLE TO INFLUENCE AND
- BENEFICIARIES WERE ACTIVE IN PROCURRING DISPOSITION
5
METHODS OF CREATING A TRUST
- DECLARATION BY PROPERTY OWNER THAT HE HOLDS PROPERTY AS TRUSTEE
- TRANSFER OF PROPERTY DURING OWNER’S LIFETIME TO A TRUSTEE
- TESTAMENTARY TRANSFER OF PROPERTY TO A TRUST
- EXERCISE OF POWER OF APPOINTEMENT TO APPOINT ANOTHER TRUSTEE
- CONTRACT TO CREATE A TRUST
4
21 YEAR TERM LIMIT FOR TRUSTEE
- TRUSTEE MAY ONLY SERVE FOR 21 YEARS AFTER SETTLORS DEATH
- REGARDLESS OF TRUST TERMS
- FOR NONCHARITABLE TRUST
- OR TRUST FOR UNINCORPORATED SOCIETY
2
INCOME AND LIABILITES ARISING FROM TRUST ASSETS - BENEFICIARIES
- BENEFICIARIES MAY RECEIVE INTEREST INCOME FROM ASSETS
- RESPONSIBLE FOR PAYING INTEREST ON LOAN DEBT, TAXES OR FOR MINOR REPAIRS