deck D (153-204) Flashcards
2
CORPORATE DIRECTORS AND OFFICERS BREACH THEIR FIDUCIARY DUTY OF LOYALTY AND CREATE A CONFLICTS OF INTEREST WHERE THEY
- USURP CORPORATE OPPORTUNITIES
- COMPETE WITH CORPORATION
4
ALLOWED SHAREHOLDER AGREEMENTS
- VOTING TRUST
- VOTING AGREEMENT
- MANAGEMENT AGREEMENT
- RESTRICTIONS ON STOCK TRANSFERS
3
FORMATION OF AGENCY RELATIONSHIP - ABC
- AGREEMENT BETWEEN PARTIES
- BENEFIT TO PRINCIPAL
- CONTROL OF AGENT’S CONDUCT BY PRINCIPAL
1
AGENT’S LINGERING APPARENT AUTHORITY AFTER PRINCIPAL-AGENT RELATIONSHIP TERMINATES APPLIES TO
- THIRD PARTIES AGENT HAS PREVIOUSLY TRANSACTED WITH
2
TO TRANSMUTE CP TO SP IN OR AFTER 1985, THE SPOUSE ADVERSELY AFFECTED MUST
- MAKE AN EXPRESS WRITTEN DECLARATION
- OF INTENT TO TRANSMUTE CP ASSET TO SP
3
SPECIAL CLASSIFICATIONS - DISABILITY
- IF INTENDED TO REPLACE SPOUSE’S INCOME AFTER DISABILITY - SP
- IF PURCHASED WITH COMMUNITY FUNDS AND INTENDED TO PROVIDE RETIREMENT BENEFITS - CP
- FOR DISTRIBUTION, CP UNTIL SEPARATION, AND THEN SP OF DISABLED SPOUSE
4
SPECIAL CLASSIFICATIONS - EDUCATION -
COMMUNITY REIMBURSED WHERE AND HOW ACCRUED
- COMMUNITY MATERIALLY CONTRIBUTED TO EDUCATION
- SUBSTANTIALLY ENHANCING EDUCATED SPOUSE’S EARNING POTENTIAL
- REIMBURSEMENT INCLUDES INTEREST
- ACCRUING FROM THE END OF CALENDAR YEAR CONTRIBUTION WAS MADE
2
COMMUNITY PROPERTY USED TO PAY PURCHASE PRICE OF SEPARATE PROPERTY -
FORMULA FOR FINDING COMMUNITY SHARE
- FIND COMMUNITY INTEREST
- MULTIPLY BY AMOUNT OF CAPITAL APPRECIATION
2
DISTRIBUTION OF COMMNITY ASSETS AT DEATH - GENERAL RULE
- ONE HALF CP AND QCP TO SURVIVING SPOUSE
- ONE HALF CP AND QCP TO ESTATE
3
TYPES OF FRAUD POSSIBLE DURING TESTAMENTARY PROCESS
- FRAUD IN THE EXECUTION
- FRAUD IN THE INDUCEMENT
- FRAUD PREVENTING REVOCATION
2
ALLOCATION OF TRUST ASSETS - TRUSTEE’S ALLOCATION POWERS - TRUSTEE CAN USE
- BEST JUDGMENT TO CHANGE ALLOCATION
- TO FOLLOW SETTLOR’S INTENT
3
A TRUSTEE MAY USE THE DEFENSE OF LACHES WHERE A BENEFICIARY
- DELAYED MAKING A CLAIM ON TRUST PROPERTY
- CAUSING PREJUDICE TO TRUSTEE OR OTHER BENEFICIARIES
3
ALLOWED INFERENCES OF PRESENT TESTAMENTARY INTENT
- SPECIFIC BEQUESTS
- SIGNATURES
- OTHER EXTRINSIC EVIDENCE
1
PRETERMITTED CHILD
- BORN AFTER EXECUTION OF WILL
4
DEFINITION OF INJUNCTION
- DECREE ORDERING A PARTY
- TO PERFORM
- OR REFRAIN FROM PERFORMING
- A CERTAIN ACT
5
PERMANENT LEGAL INJUNCTION REQUIRES A SHOWING OF
- LEGAL REMEDY INADEQUATE
- PROPERTY RIGHT INVOLVED /(MODERNLY PROTECTABLE INTEREST)
- FEASIBILITY OF ENFORCEMENT
- BALANCING OF HARDSHIPS IN FAVOR OF GRANTING
- NO AVAILABLE DEFENSES AGAINST GRANTING INJUNCTION
3
AMELIORATIVE WASTE
- PRESENT INTEREST HOLDER
- MAKES UNPERMITTED CHANGES TO PROPERTY
- IMPROVE ITS VALUE
3
INTENT REQUIREMENT FOR EFFECTIVE DELIVERY OF DEED - GRANTOR MUST MANIFEST
- ASCERTAINABLE INTENT TO MAKE DEED EFFECTIVE
- INTENT CAN BE INFERRED
- EVEN WHERE ACTUAL DELIVERY OF THE DOCUMENT ITSELF IS POSTPONED
1
REVERTER
- FUTURE INTEREST HELD BY THE GRANTOR
2
IMPLIED COVENANT OF QUIET ENJOYMENT IN A LEASE AGREEMENT
- LANDLORD OR HIS AGENTS WILL NOT INTERFERE
- WITH THE TENANT’S USE OR ENJOYMENT OF THE PRESMISES