Deck H (361 - 411) Flashcards
2
CORPORATE DEBT CLASSES
- SECURED DEBT IS BOND
- UNSECURED DEBT IS DEBENTURE
2
COMMUNITY REAL PROPERTY - DISPOSAL AND CONTROL - SALE OR LEASE
BOTH SPOUSES MUST EXECUTE WRITTEN INSTRUMENT FOR:
- SALE OF PROPERTY
- LEASE OF PROPERTY FOR OVER A YEAR
2
SPECIAL CLASSIFICATIONS - PENSION PLANS - APPROACHES TO AWARDING FUNDS
- RESERVATION OF JURISDICTION APPROACH
- CASH OUT APPROACH
3
COMMUNITY PROPERTY CONTRIBUTIONS TOWARD A SPOUSE’S SEPARATE PROPERTY - BUSINESS -
WHEN TO USE VAN CAMP
- WHEN CHARACTER OF BUSINESS THE CAUSE FOR ITS GROWTH
- SPOUSE WAS WELL COMPENSATED DURING THE MARRIAGE
- COMMUNITY ALREADY BENEFITED FROM BUSINESS
2
FIDUCIARY DUTIES OWED BY SPOUSES TO EACH OTHER
- FULL DISCLOSURE OF MATERIAL FACTS
- GOOD FAITH AND FAIR DEALINGS
3
FIDUCIARY DUTIES OWED SPOUSES - DUTY OF GOOD FAITH AND FAIR DEALING
- SPOUSES MUST OPERATE WITH HIGHEST DEGREE OF GOOD FAITH
- MAKE FAIR DEALINGS WITH OTHER SPOUSE
- NEVER TAKE UNFAIR ADVANTAGE OF OTHER SPOUSE
3
“OF SOUND MIND” - TESTATOR MUST UNDERSTAND
- NATURE OF TESTAMENTARY ACT OR
- NATURE AND SITUATION OF HIS PROPERTY OR
- HIS RELATIONSHIPS W/PARTIES AFFECTED BY WILL
3
REVOCATION BY OPERATION OF LAW - PRETERMITTED SPOUSE OR CHILD WILL NOT RECIEVE INTESTATE SHARE WHERE
- INTENTIONALLY OMMITTED ON FACE OF WILL
- OTHEREWISE PROVIDED FOR IN LIEU OF WILL
- DECEDENT DEVISED SUBSTANTIALLY ALL OF ESTATE TO PARENT OF OMMITTED CHILD
2
DEMONSTRATIVE GIFTS
- GENERAL GIFTS
- SPECIFYING PROPERTY OR PARTICULAR FUND FROM WHICH GIFT SHOULD BE MADE
1
A DEVISE ADEEMS BY SATISFACTION WHEN
- BENEFICIARY RECEIVES DEVISE DURING TESTATOR’S LIFETIME
3
SIMULTANEOUS DEATH OF TESTATOR AND BENEFICIARY - WHERE TESTATOR AND BENEFICIARY DIE SIMULATENOUSLY
- IF NO CLEAR AND CONVINCING EVIDENCE THAT BENEFICIARY DIED FIRST
- BENEFICIARY WILL BE DETERMINED TO HAVE DIED FIRST
- TRIGGERING LAPSE AND ANTILAPSE STATUTES
4
ADVANCEMENT
- PERSON DIES INTESTATE
- PROPERTY GIVEN TO HEIR DURING DECEDENT’S LIFETIME AS PART OF HEIR’S SHARE OF DECEDENT’S ESTATE
- DECLARANT DECLARED GIFT IN WRITING
- HEIR ACKNOWLEDGED GIFT IN WRITING
3
MODERN PER STIRPES OR PER CAPITA WITH REPRESENTATION
- EQUAL DISTRIBUTION AT FIRST LEVEL HEIRS
- WHERE FIRST LEVEL HEIRS DECEASED, THEIR SHARES ARE DIVIDED EVENLY AMONG THEIR ISSUE
- IF FIRST LEVEL HEIRS LEFT NO ISSUE, THEIR SHARES ARE DIVIDED EVENLY AMONG NEXT LEVEL
3
QUASI-CONTRACT SCENARIOS
- NO ATTEMPT TO CONTRACT
- UNENFORCEABLE CONTRACT
- BREACHED CONTRACT
6
REQUIRED SHOWINGS FOR SPECIFIC PERFORMANCE
- INADEQUATE REMEDY AT LAW
- VALID CONTRACT WITH DEFINITE AND CERTAIN TERMS CAPABLE OF ENFORCEMENT
- SATISFACTION OF PLAINTIFF’S CONTRACT DUTIES
- MUTUALITY OF PERFORMANCE
- FEASIBILITY OF ENFORCEMENT
- NO AVAILABLE DEFENSES