deck Y (1187-1237) Flashcards
2
CORPORATION REQUIREMENTS TO BE SUBJECT TO 16B
- LISTED ON NATIONAL STOCK EXCHANGE
- OR HAVE 10 MILLION MORE IN ASSETS AND AT LEAST 500 SHAREHOLDERS
3
SEC - MISAPPROPRIATORS
- BREACH A DUTY OF TRUST AND CONFIDENCE
- OWED TO A SOURCE OF MATERIAL NON-PUBLIC CORPORATE INFORMATION
- WHEN THEY MAKE A TRADE OF A SECURITY INSTRUMENT BASED ON THIS MATERIAL NON-PUBLIC CORPORATE INFORMATION
2
CAPACITY REQUIREMENTS OF AGENT
- MINIMAL CAPACITY (MENTAL HEALTH OK)
- MINORS ARE OK
2
BUSINESS PARTHERSHIP - TITLED PROPERTY IS THE SEPARATE PROPERTY OF PARTNERS WHERE
- HELD IN INDIVIDUAL PARTNER’S NAMES
- AND PURCHASED WITH INDIVIDUAL PARTNER’S FUNDS
1
DOES LP CONTINUE TO EXIST DURING WINDING UP PERIOD?
- YES
2
THE SOURCE RULE -
TWO TRACING METHODS ALLOWED BY COURT
- EXHAUSTION METHOD
- DIRECT TRACING
3
SPECIAL CLASSIFICATIONS - PERSONAL INJURY - LIABILITY FOR TORTFEASOR SPOUSE WHO COMMITS TORT AGAINST SPOUSE
- TORTFEASOR SPOUSE’S SP MUST BE EXHAUSTED
- BEFORE CP IS USED
- TO DISCHARGE LIABILITY OF TORTFEASOR SPOUSE TO INNOCENT SPOUSE
3
UNMARRIED COHABITANTS - METHODS COURTS USE TO ALLOCATE PROPERTY OF COHABITANTS
- CONTRACT PRINCIPALS
- QUASI-CONTRACT
- TRUSTS
3
CHARITABLE TRUST
- MADE FOR A CHARITABLE PURPOSE
- MUST BENEFIT SOCIETY AT LARGE
- WHERE PURPOSE FAILS - APPLY CY PRES DOCTRINE
1
EXPECTATION DAMAGES
- COMPENSATE PLAINTIFF FOR EXPECTED BENEFIT OF THE BARGAIN
3
LEGAL RESITUTION FOR BREACH OF CONTRACT AWARDED WHERE
- DEFENDANT DERIVED BENEFIT FROM PLAINTIFF
- JUSTICE DEMANDS PLAINTIFF BE COMPENSATED FOR BENEFIT
- OR PLAINTIFF WANTS HER PROPERTY BACK
3
GROUNDS FOR CONTRACT REFORMATION
- MISREPRESENTATION
- MUTUAL MISTAKE
- UNILATERAL MISTAKE (NONMISTAKEN PARTY KNEW OR SHOULD HAVE KNOWN OF MISTAKE)
3
REMEDY FOR VOLUNTARY WASTE
- DIMINUTION IN VALUE
- COST OF REPAIR
- AND/OR INJUNCTION
2
COMMINGLING RULES AND EQUITABLE LIENS
- PROPERTY NEED NOT BE TRACEABLE TO ITS ORIGINAL FORM
- COMMINGLING OK
1
RINGS GO ON YOUR
FINGERS
1
ADVERSE POSSESSION DEFINITION
- A MEANS OF TAKING TITLE TO REAL PROPERTY THROUGH THE OPERATION OF THE STATUTE OF LIMITATIONS FOR TRESPASS
1
DATE OF ACCEPTANCE OF DEED
- OCCURS ON THE DATE DEED DELIVERED INTO ESCROW UNLESS PARTIES EXPRESSLY AGREE OTHERWISE.
5
FEE SIMPLE SUBJECT TO EXECUTORY LIMITATION
- OWNERSHIP - POTENIALLY INFINITE, SUBJECT TO OCCURENCE OF POSSIBLE EVENT
- TRANSFERABILITY - ALIENABLE, DEVISABLE, DESCENDIBLE, SUBJECT TO CONDITION
- FUTURE INTEREST GRANTOR OWNS - SHIFTING EXECUTORY INTEREST
- FUTURE INTEREST THIRD PARTY OWNS - SPRINGING EXECUTORY INTEREST
- CREATED BY - WORDS OF CONDITION
1
ACTUAL PARTIAL EVICTION OCCURS WHERE
- LANDLORD MAKES IT PHYSICALLY IMPOSSIBLE TO OCCUPY PART OF THE PREMISES