DECK C (101-152) Flashcards
THE BASIC SOLICTATION RULE FOR ATTORNEY SOLICATION OF CLIENTS DOES NOT APPLY TO:
4
CORPORATION
- LEGAL ENTITY
- EXISTING SEPARATELY FROM OWNERS
- SHIELDS OWNERS FROM PERSONAL LIABILITY
- FOR CORPORATE ACTIONS
1
PIERCING CORPORATE VEIL - CONSEQUENCES OF PIERCE THE CORPORATE VEIL
- WRONGFUL CORPORATE ACTORS ARE HELD PERSONALLY LIABLE FOR THEIR ACTIONS.
4
SHAREHOLDER LAWSUIT -
REQUIREMENTS TO BRING A DERIVATIVE LAWSUIT
- MUST BE A SHAREHOLDER
- DEMAND MUST BE MADE TO DIRECTORS FOR REDRESS OF INJURY TO CORP
- DEMAND MUST BE REJECTED
- OR DEMAND MUST BE FUTILE
3
WHAT CONSITUTES “TRADING” FOR 16B
- PROFITABLE PURCHASE
- PROFITABLE SALE
- OF COMPANY EQUITY STOCK
2
LIMITED LIABILITY PARTNERSHIP
- TYPE OF PARTNERSHIP
- WHERE PARTNERS ARE NOT LIABLE FOR THE OBLIGATIONS OF THE PARTNERSHIP
2
COMMUNITY REAL PROPERTY - DISPOSAL AND CONTROL - CONVEYANCE OF REAL PROPERTY BY ONE SPOUSE TO 3RD PARTY
- CONVEYANCE OF REAL PROPERTY BY ONE SPOUSE TO A BFP PRESUMED VALID
- CAN BY VOIDED BY OTHER SPOUSE WITHIN ONE YEAR OF FILING THE INSTRUMENT OF CONVEYANCE
3
WHEN TO USE VAN CAMP AND PEREIRA FOR CP CONTRIBUTIONS TO SP BUSINESSES
- BUSINESS WAS OWNED PRIOR TO MARRIAGE
- BUSINESS WAS PURCHASED WITH SP DURING MARRIAGE
- BUSINESS WAS INHERITED DURING MARRIAGE
2
MANAGEMENT AND CONTROL OF COMMUNITY BUSINESS
- SPOUSE IN CHARGE OF BUSINESS MAY MAKE BUSINESS DECISIONS ALONE
- WRITTEN NOTICE MUST BE GIVEN TO OTHER SPOUSE WHEN DISPOSING ALL OR SUBSTANTIALLY ALL OF BUSINESS’ ASSETS
4
SPECIFIC GIFTS - SPECIAL RULES FOR STOCK
- STOCK SPLITS GO TO BENEFICIARY OF STOCK
- JURISDICTIONAL SPLIT ON STOCK DIVIDENDS
- COURT’S LOOK TO TESTATOR’S INTENT
- TESTATOR OWNERSHIP OF STOCK AT TIME OF DEATH USUALLY INDICATES INTENT TO BEQUEATH DIVIDENDS TO BENEFICIARY
2
STRICT PER STIRPES
- EQUAL DISTRIBUTION ON FIRST LEVEL
- FIRST LEVEL’S ISSUE TAKES STRICTLY BASED ON PARENT’S SHARE
3
REQUIREMENTS FOR LEGAL SUCCESSION RELATIONSHIP BETWEEN STEP OR FOSTER CHILDREN AND STEP OR FOSTER PARENT
- RELATIONSHIP BEGAN IN MINORITY
- CONTINUED THROUGHOUT PARTIES’ LIFETIMES
- LEGAL BARRIER PREVENTED ADOPTION
2
TOTTEN TRUST
- SETTLOR PLACES MONEY IN BANK ACCOUNT
- INSTRUCTS WHATEVER BALANCE REMAINS AT SETTLOR’S DEATH GOES TO BENEFICIARY
4
PERSONAL LIABILITY INCURRED WHEN TRUSTEE
- VIOLATES DUTIES
- COMMITS TORTS OR TRUSTEE’S AGENT COMMITS TORTS IN THE SCOPE OF SUPERVISION
- MAKES CONTRACTS IN THE SCOPE OF TRUST SUPERVISION,
- UNLESS THE SUBJECT CONTRACT STATES OTHERWISE
3
CHILDREN BORN OUTSIDE OF LEGALLY RECOGNIZED MARRIAGE CAN INHERIT FROM FATHER WHERE
1) SUBSEQUENT MARRIAGE OF PARENTS
2) ADJUDICATION OF PATERNITY DURING PARENTS’ LIFETIME
3) CLEAR AND CONVINCING EVIDENCE OF PATERNITY AFTER FATHER’S DEATH
2
NOMINAL DAMAGES AWARDED WHERE
- PLAINTIFF’S RIGHTS WERE VIOLATED
- BUT PLAINTIFF SUSTAINED NO MEASURABLE LOSS
1
MONEY RESTITUTION
- PLAINTIFF IS AWARDED MONETARY VALUE OF BENEFIT RECEIVED BY DEFENDANT
2
ENCROACHMENT
- TRESSPASS
- WHERE DEFENDANT’S STRUCTURE INVADES PLAINTIFF’S PROPERTY
3
QUERIES FOR PROPERTY ESSAYS
- PROPERTY ACQUISITON ISSUES?
- PROPERTY INTEREST ISSUES?
- PROPERTY LIMITATION ISSUES?
3
TENANCY AT SUFFERANCE
- CREATION BY: TENANT WRONGFULLY HOLDS OVER PAST EXPIRATION OF A VALID LEASE
- DURATION: ANY PERIOD OF TIME TENANT WRONGFULLY OCCUPIES
- TERMINATION NOTICE REQUIREMENT: N/A