Feb '14

Question 1

If statute says “present consideration”, what does that mean?

Answer 1

Means payment/consideration for something in the present. Not for a payment already due/past debts/gifts. Also does not include post-dated checks.

Question 2

Is voluntary intoxication a defense to crime?

Answer 2

No. Will not negate intent.

Question 3

Detinue (5 elements)

Answer 3

1. P has current property right
2. P has right to immediate possession
3. Property capable of possession
4. Property has some value
5. D had possession of property prior to filing suit

Question 4

Purchaser of goods acquires which title?

Answer 4

All title that transferor had or had power to transfer. If limited interest purchased only, only acquire rights to the extent to the interest purchased

Question 5

A person with voidable title has power to transfer …

Answer 5

A good title to a GF purchaser for value.

Question 6

If thief takes something and subsequent people take from thief, do any of them have title?

Answer 6

No. All their titles are void, not voidable. Irrelevant that subsequent purchasers were BF purchasers for value.

Question 7

Is detinue an action in equity or law?

Can laches be a defense to claim of detinue?

Answer 7

Law.

No, b/c laches is equitable defense for claims with no SOL, not a legal defense.

Question 8

What does piercing the corporate veil mean?

Answer 8

Shareholders not personally liable for the debts of a corporation. But where shareholders have controlled or used corp. to 1. evade personal obligation, 2. perpetrate fraud/crime, 3. commit injustice or 4. gain an unfair advantage, ct can pierce corporate veil and hold SHs liable for debts of corp

Question 9

When can ct pierce corporate veil in VA?

Answer 9

Rarely applied. Applied when there is such unity of interest between the SHs and the corp that to adhere to that separateness would work an injustice