deck Z (1238-1288) Flashcards
3
DEEP ROCK DOCTRINE
- CORPORATION IS INSOLVENT
- 3RD PARTY CREDITORS PAID FIRST
- SHAREHOLDER CLAIMS SUBORDINATE
4
AGENT’S DUTY OF LOYALTY - CONFLICT OF INTEREST PROHIBITIONS
- NO SELF -DEALING
- NO USURPING OPPORTUNITIES
- NO SECRET PROFIT
- NO COMMINGLING FUNDS
3
FIDUCIARY DUTIES OF PARTNERS IN A LLP
- DUTY OF CARE
- DUTY OF LOYALTY
- DUTY TO DISCLOSE
5
DISSOLUTION OF LLC
A SPLIT AUTHORITY
- COMMON LAW - DISSASSOCIATE A MEMBER AND IT DISSOLVES THE LLC
- MODERNLY, DISSOLUTION ONLY CAUSED BY OPERATING AGREEMENT
- OR CONSENT BY ALL MEMBERS
- OR EVENT MAKING LLC’S BUSINESS ILLEGAL
- JUDICIAL DECREE
3
COMMUNITY PROPERTY - CONTRIBUTIONS USED TO IMPROVE SPOUSE’S OWN SEPARATE PROPERTY - COMMUNITY IS REIMBURSED FOR
- INCREASED VALUE OF SEPARATE PROPERTY
- OR REIMBURSED FOR AMOUNT CONTRIBUTED
- WHICHEVER IS GREATER
5
APPORTIONMENT PARAGRAPH FOR DIVISION OF
SP BUSINESS ASSETS
- TO APPORTION BETWEEN
- SP SHARE OF BUSINESS MANAGER SPOUSE BROUGHT TO MARRIAGE
- AND VALUE ADDED TO SP BUSINESS AFTER MARRIAGE BY COMMUNITY RESOURCES,
- COURTS HAVE DEVELOPED TWO ACCOUNTING METHODS:
- VAN CAMP AND PEREIRA.
2
FRAUD IN THE EXECUTION OCCURS WHEN TESTATOR IS UNAWARE
- HE IS SIGNING A WILL
- HE IS SIGNING A FORGED WILL
4
OUTSIDE WRITING MAY BE INCORPORATED BY REFERENCE INTO THE WILL WHERE:
- WRITING EXISTED WHEN WILL EXECUTED
- WILL MANIFESTS INTENT TO INCORPORATE WRITING
- WILL SUFFICIENTLY DESCRIBES WRITING TO IDENTIFY IT
- WRITING ITSELF NEED NOT BE VALID
4
CODICIL - ELEMENTS
- AMENDMENT TO AN EXISTING WILL
- MADE TO CHANGE, EXPLAIN OR REPUBLISH
- SAME FORMALITY REQUIREMENTS AS WILLS AND HOLOGRAPHIC WILLS
- REPUBLISHES WILL AS OF THE DATE OF THE CODICIL
3
REVIVAL OF WILL
- A WILL IS REVOKED
- A SUBSEQUENT WILL IS REVOKED
- REVIVAL OF FIRST WILL WHERE CLEAR EVIDENCE OF TESTATOR’S INTENT TO REVIVE.
4
WILL CONTRACTS - METHODS OF PROVING VALIDITY OF CONTRACT
- PROVISION IN WILL STATES MATERIAL PROVISIONS OF CONTRACT OR
- EXPRESS REFERENCE IN WILL OR OTHER INSTRUMENT TO A CONTRACT W/EXTRINSIC EVIDENCE PROVING TERMS OR
- WRITING SIGNED BY DECEDENT EVIDENCING CONTRACT OR
- CLEAR AND CONVINCING EVIDENCE OF AGREEMENT ENFORCEABLE AT EQUITY
1
LIQUIDATED DAMAGES ARE AGREED TO BY
- STIPULATION IN THE CONTRACT
4
ELEMENTS OF ADVERSE POSSESSION
- OPEN AND NOTORIOUS POSSESSION
- ACTUAL AND EXCLUSIVE POSSESSION
- CONTINUOUS POSSESSION FOR STATUATORY PERIOD
- HOSTILE POSSESSION
2
ADVERSE POSSESSION - CONTINUOUS REQUIREMENTS
- OWNER MAY NOT ENTER LAND DURING STATUATORY PERIOD TO REGAIN POSSESSION
- CONSTANT USE NOT REQUIRED AS LONG AS OCCUPIER’S USE IS TYPICAL OF AN OWNER OF SUCH LAND.
1
REAL COVENANT - VERTICAL PRIVITY REQUIREMENT
- SUCCESSOR IN INTEREST MUST OWN THE ENTIRE ESTATE OWNED BY THE ORIGINAL COVENANTING PARTY.
1
WATER RIGHTS - CIVIL LAW RULE
- OWNER HAS STRICT LIABILITY FOR INTERFERENCE WITH NATURAL WATERWAYS
2
TYPES OF SUPPLEMENTAL JURISDICTION
- ANCILLARY JURISDICTION - COURT ASSERTS JX OVER DEFENDANT’S CROSS CLAIM OR COUNTERCLAIM.
- PENDENT JURISDICTION - INSUFFICENT SUBJECT MATTER JX CLAIM JOINED TO A SUFFICIENT SUBJECT MATTER JX CLAIM.
3
CALIFORNIA REQUIREMENT FOR AFFIRMATIVE DEFENSES IN ANSWER - DEFENDANT MUST PROVIDE
- FACTUAL DETAIL
- FOR EACH ELEMENT
- OF EACH AFFIRMATIVE DEFENSE.
2
INVOLUNTARY DISMISSAL MAY BE ORDERED BY THE COURT FOR
- FAILURE TO PROSECUTE
- FAILURE TO COMPLY WITH A COURT ORDER