Deck Q (769 through 829) Flashcards
2
HOW LONG DOES A PRE-INCORPORATION PROMOTER STAY PERSONALLY LIABLE
FOR PRE-INC DEBT
- UNTIL NOVATION
- OR CLEAR EVIDENCE PARTIES DIDN’T INTEND PERSONAL LAIBLITY
3
PROHIBITIONS FOR BOARD VOTING ON CORPORATE ACTIONS
- NO PROXIES
- NO PERSONALLY INTERESTED PARTIES
- NO VOTING AGREEMENTS
3
THE BUSINESS JUDGMENT RULE
- ACTIONS TAKEN IN GOOD FAITH
- WITH THE CARE A REASONABLY PRUDENT PERSON WOULD EXERCISE IN SIMILAR CIRCUMSTANCES
- MADE WITH THE REASONABLE BELIEF ACTIONS WERE IN THE BEST INTERESTS OF THE CORPORATION
2
SHAREHOLDER LIABILITY FOR CORPORATE DEBTS
- SHAREHOLDERS ARE NOT LIABLE FOR CORPORATE DEBTS
- UNLESS SHAREHOLDERS ARE PART OF PROFESSIONAL CORPORATION
3
AN AGENT HAS ACTUAL IMPLIED AUTHORITY WHERE
- THE TASK IS REASONABLY NECESSARY TO ACCOMPLISH EXPECTED GOALS
- CUSTOMARY FOR THIS TYPE OF AGENT TO HAVE AUTHORITY TO DO THIS TASK
- DURING PRIOR DEALINGS AGENT HAD AUTHORITY TO DO THIS TASK
1
SPECIAL CLASSIFICATIONS - LIFE INSURANCE - ESTATE’S SHARE OF TERM LIFE INSURANCE
- ESTATE PAYING LATEST TERM IS AWARDED ASSET
2
EARNINGS AND ACCUMULATIONS ARE DEEMED SEPARATE PROPERTY WHERE
- LIVING APART AND SEPARATE FROM OTHER SPOUSE
- LEGAL SEPARATION
2
PREMARITAL AGREEMENTS - CONTRACT LAW REQUIREMENTS
- AGREEMENT MUST BE SIGNED BY BOTH PARTIES
- NO CONSIDERATION IS REQUIRED
4
TRUST IS INVALIDATED WHERE IT IS PROCURRED BY
- DURESS
- FRAUD
- MENACE
- UNDUE INFLUENCE
2
SETTLOR’S POWER TO TERMINATE TRUST
- WHERE POWER RESERVED
- IN CA, SETTLOR MAY TERMINATE BY PETITIONING COURT
1
PRETERMITTED HEIR
- CHILD BORN AFTER EXECUTION OF WILL
2
WHEN TO USE CONSTRUCTIVE TRUST AS EQUITABLE REMEDY
- WHEN VALUE OF WRONGFULLY TAKEN PROPERTY HAS GONE UP (PLAINTIFF TAKES INCREASE)
- WHERE FUNDS ARE NOT COMMINGLED
5
CAUSES GIVING RISE TO NEED FOR ORDER OF EQUITABLE RESITUTION
- WHERE REMEDY AT LAW IS INADEQUATE
- DAMAGES WOULD BE SPECULATIVE
- MULTIPLICITY OF SUITS COULD RESULT
- IMPROPER BECAUSE HARM IS NOT YET RIPE
- SITUATION INVOLVES UNIQUE PROPERTY
2
DAMAGES AND RESCISSION - CONSEQUENCE OF ORDER OF RELIEF SOUGHT
- PLAINTIFF SUES FOR DAMAGES FIRST, RESCISSION NOT ALLOWED
- PLAINTIFF SUES FOR RESCISSION FIRST, DAMAGES ARE ALLOWED.
2
WILD DEED IS A DEED RECORDED IN SUCH A WAY THAT
- A REASONABLE SEARCH COULD NOT YIELD RESULTS
- AND WILL NOT AMOUNT TO CONSTRUCTIVE NOTICE
1
ACTUAL NOTICE OF A PREVIOUS INTEREST IN PROPERTY OCCURS WHERE BUYER HAS
- ACTUAL, SUBJECTIVE NOTICE OF A PRIOR, UNRECORDED INTEREST
3
SHELTER DOCTRINE (BFP)
- ONE WHO TAKES PROPERTY FROM A BFP WILL STAND IN THE BFP’S SHOES
- ALLOWING TAKER FROM THE BFP TO PREVAIL AGAINST ANY CLAIMS
- THE BFP WOULD HAVE PREVAILED AGAINST
1
IMPLIED EQUITABLE SERVITUDE - CONSTRUCTIVE NOTICE
- A DEED IN GRANTEE’S CHAIN OF TITLE CONTAINED THE SERVITUDE (EVEN IF GRANTEE’S DID NOT).
1
PROFIT
- ENTITLES OWNER TO GO ON SERVIENT ESTATE AND REMOVE A PRODUCT OF THE LAND ITSELF.
2
DEFENDANT HAS MINIMUM CONTACTS WITH A STATE WHEN HE
(FORESEEABILITY)
- PURPOSEFULLY AVAILS HIMMSELF OF THE BENEFITS AND PROTECTIONS OF A STATE
- MAKING IT REASONABLY FORESEEABLE HE COULD BE HALED INTO STATE’S COURT
3
“PER SE” MINIMUM CONTACTS ARISE FROM DEFENDANT’S
- DIRECT CONTACT WITH THE FORUM STATE
- CONTRACTING WITH A RESIDENT OF THE FORUM STATE
- PUTTING A PRODUCT INTO STREAM OF COMMERCE IN THE STATE
2
CALIFORNIA - CONTRACTS - WHERE NO CHOICE OF LAW PROVISION IN CONTRACT BUT MULTIPLE STATES’ LAWS ARE IN CONFLICT, THE COURT WILL EVALUATE
- THE COMPARITIVE IMPAIRMENT TO EACH STATE’S INTEREST
- SHOULD THE OTHER STATE’S LAW BE APPLIED.
2
FEDERAL LIMITS ON DEPOSITIONS
- ONLY 10
- DEPOSITION MUST NOT EXCEED A 7 HOUR DAY WITHOUT COURT ORDER