deck K (514-564) Flashcards
6
SECTION 16(B) SHORT SWING PROFITS
LIABILITY IS TRIGGERED WHEN
- CORPORATE INSIDER
- BUYS AND SELLS
- OR SELLS AND REPURCHASES
- ANY SHARES OF THEIR CORPORATION
- WITHIN SIX MONTHS OF THE INTITIAL TRANSACTION
3
TIPPERS
- PROVIDE INSIDER INFORMATION
- LIABLE WHERE INFORMATION WAS SHARED FOR PERSONAL GAIN OF ANY KIND
- LIABLE WHERE INFO WAS USED TO TRADE BY ANYONE
2
SUBAGENT’S DUTIES
- AUTHORIZED ACTIVITY - SAME DUTY OWED TO PRINCIPAL
- UNAUTHORIZED ACTIVITY - DUTY OWED ONLY TO AGENT
3
EXCEPTIONS TO PRINCIPAL NOT HAVING LIABILITY FOR INTENTIONAL TORTS OF AN AGENT
- SPECIFICALLY AUTHORIZED
- NATURAL RESULT FROM EMPLOYMENT
- TORTIOUS ACT WAS MOTIVATED BY INTENT TO SERVE PRINCIPAL
2
TITLED PROPERTY DEEMED ASSETS OF PARTNERSHIP WHERE
- TITLED IN PARTNERSHIP’S NAME
- TITLED IN PARTNER’S NAME AND INSTRUMENT TRANSFERRING TITLE INDICATES OWNER IS PARTNER OR REFERENCES PARTNERSHIP
4
COMMUNITY PROPERTY
- ALL PROPERTY
- ACQUIRED BY MARRIED PERSON
- WHILE DOMICILED IN CA
- THAT ISN’T CLASSIFIED AS SP
5
SP EXPENDITURES MADE TO BENEFIT CP REAL ESTATE
ANTI-LUCAS 1
- 1984-1986
- PROPERTY HELD BY JOINT TENANTS WAS PRESUMPTIVELY CP
- UNLESS WRITTEN AGREEMENT TO CONTRARY
- OR CLEARLY STATED OTHERWISE IN DEED
- RIGHT TO REIMBURSEMENT OF SP
2
DISTRIBUTION OF ASSETS AT DEATH - DECEDENT TRIES TO DEVISE MORE THAN 1/2 COMMUNITY ASSETS IN WILL
- SURVIVING SPOUSE MAY ELECT TO TAKE CP RIGHTS INSTEAD OF DEVISE
- SURIVING SPOUSE MAY ELECT TO TAKE DEVISE UNDER WILL IN LIEU OF CP RIGHTS
7
UNINCORPORATED WRITING REFERENCING LIMITED TANGIBLE PERSONAL ITEMS MAY BE ADMITTED INTO PROBATE WHERE:
- REFERRED TO IN THE WILL
- DATED AND IN TESTATOR’S HANDWRITING
- OR SIGNED BY TESTATOR
- UNLESS INTENT CAN BE SHOWN
- DESCRIBES ITEMS AND BENEFICIARIES
- EACH ITEM IS WORTH 5K OR LESS
- NO MORE THAN 25K TOTAL DISPOSED
4
REVOCATION OF WILL - PHYSICAL ACT
- DESTRUCTIVE ACT
- BY TESTATOR
- OR IN TESTATOR’S PRESENCE AT HIS DIRECTION
- WITH INTENT TO REVOKE WILL
1
SPECIFIC GIFTS
- SPECIFIC, IDENTIFIABLE PROPERTY
4
CONSTRUCTIVE TRUST AS REMEDY FOR WRONGFULLY OBTAINING LEGAL TITLE TO PROPERTY - OCCURS WHERE THE WRONGFUL ACT
- LED TO DETENTION OF AND OBTAINING LEGAL TITLE TO PROPERTY
- DEFENDANT IS MADE TRUSTEE OF UNJUSTLY RETAINED PROPERTY
- COMPELLING HIM TO RETURN PROPERTY TO PLAINTIFF
- RENDERING LIABLE FOR ANY DAMAGES CAUSED TO PROPERTY
6
INADEQUATE LEGAL REMEDY FOR FOR INJUNCTIVE RELIEF MAY RESULT FROM
- INSOLVENT DEFENDANT OR
- MONEY DAMAGES SPECULATIVE OR
- MONEY DAMAGES INADEQUATE OR
- MULTIPLICITY OF POTENTIAL LAWSUITS OR
- PROSPECTIVE TORT COULD OCCUR OR
- PROPERTY IS UNIQUE
2
PROPERTY RIGHT REQUIREMENT FOR PERMANENT INJUNCTION
- AT COMMON LAW, PROPERTY REQUIRED
- MODERNLY, IN CA, ANY RIGHT IS SUFFICIENT
3
PLAINTIFF’S PERFORMANCE REQUIREMENT FOR AN AWARD OF SPECIFIC PERFORMANCE MAY BE SATISIFED WHEN PLAINTIFF SHOWS HER PERFORMANCE DUTIES
- HAVE BEEN PERFORMED
- CAN BE PERFORMED IMMEDIATELY
- OR VALID EXCUSE EXISTS FOR THEIR NON-PERFORMANCE
3
THREE PRESENT COVENANTS OF TITLE CONTAINED IN GENERAL WARRANTY DEED
- SEISIN - WARRANTS GRANTOR OWNS WHAT HE PURPORTS TO OWN
- RIGHT TO CONVEY - WARRANTS GRANTOR HAS POWER TO MAKE CONVEYANCE
- AGAINST ENCUMBRANCES - WARRANTS NO MORTGAGES, LIENS, EASEMENTS OR OTHER USE RESTRICTIONS ON LAND
3
FEE SIMPLE SUBJECT TO CONDITION SUBSEQUENT - OWNERSHIP IS
- POTENIALLY INFINITE
- SUBJECT TO OCCURENCE OF POSSIBLE EVENT
- IF GRANTOR TIMELY EXERCISES RIGHT OF REENTRY
3
FIXTURES DEFINITION
- ITEMS WERE ONCE MOVEABLE CHATTEL
- NOW SO ATTACHED TO THE REAL ESTATE
- THEY ARE DEEMED FIXTURES TO THE REAL ESTATE
4
END OF EASEMENT BY PRESCRIPTION
- ADVERSE
- OPEN
- CONTINUOUS FOR STATUATORY PERIOD
- INTERRUPTION OF EASEMENT HOLDERS USE OF EASEMENT