Feb '24 Flashcards
When will arrearages be assessed?
Arrearages will be assessed for court ordered awards, or for contractual obligations, or as the parties have agreed
and reduced to writing, when the payor has not paid support accordingly.
When may child support be modified?
Child support may be modified based on the best interests of the child and a showing of a material change of
circumstances
When is contempt of court appropriate, and what may stop it?
Contempt of court is appropriate to enforce a direct court order. VA Code 16.1-292. It generally allows for fines
and incarceration as the court deems appropriate when a wilful disregard has been shown for the authority of the court. It
is generally considered a punitive remedy useful for the court to assert its authority
- good faith, oral agreement, etc.
Doctrine of mutual mistake
Under the doctrine of mutual mistake, a court may give
relief where there has been an innocent omission or insertion of a material stipulation, contrary to the intention of both
parties
Ownership without a recorded deed?
In order for a deed to be valid, it must: (1) meet certain formalities; (2) be delivered by the grantor; and (3) be accepted by
the grantee. Delivery can occur by various methods, including manual delivery. Failure to record the deed, however, does
not invalidate it. Once delivery occurs, title passes to the grantee.
Is a zoning ordinance an encumbrance?
No - a lawfully adopted zoning ordinance is not an “encumbrance,” tenancy, or lien on the land
When is a principal liable for a contract?
A principal is liable on an instrument signed by an agent or agents. If the agent is authorized, the principal is liable whether
the agent signed the principal’s name, the agent’s name, or a combination thereof.
Accommodation Party
An accommodation party is a type of surety, or one who guarantees the
debt of another. In order to be an accommodation party, a person cannot have received a direct benefit from the instrument. Further, a cosigner is presumed to be an accommodation party. An
accommodation party is liable on the instrument
Surety
A surety, who makes payment on a loan on the behalf of a principal is entitled to all of the rights and remedies of a
creditor.
Alteration of check
An alteration is an unauthorized change that purports to modify the obligation of a party. An alteration can modify a
completed instrument or an incomplete instrument. If the alteration is done fraudulently by the holder, it
would discharge the liability of the obligor. If the alteration is not done fraudulently, the obligor would remain liable but
only on the original terms of the obligation.
Priority of terms on negotiable instrument
In Virginia , the hierarchy of terms is viewed as handwritten,
typewritten, printed, and words prevail over numbers.
Forgery on a check
In the case that
the maker’s signature does not appear on the note, the maker would not generally be liable for such obligation. Ratification by conduct would make it so that the maker would not be able to deny the forgery.
Further, in the case that the maker is determined have acted negligently to contribute to the forgery or fraudulent
indorsement, the maker would also be precluded from denying the validity of the indorsement.
Forged signature reporting
There is a duty for reasonable care and a forged signature must be reported to the bank within one year of the creation of
the instrument (or issuance of statement)
enforceability of security interest
A security interest becomes enforceable when such interest attaches to collateral. Attachment occurs when there has been value from the creditor, the debtor pledges rights to the collateral, the necessary
terms are indicated in a security agreement, and such agreement satisfies the statute of frauds.
Accommodation party recovery
An accommodation party is liable for an instrument if: (i) the person entitled to enforce the instrument has reduced
his claim to judgment against the other party and execution is returned unsatisfied, (ii) the other party has become
insolvent, (iii) the other party cannot be served with process, or (iv) it appears useless to proceed against the other party.