Law Stuff Flashcards
What is Tort Law?
When one person sues another for harm - tort is an act which causes harm to another person
In order to establish negligence the plaintiff must demonstrate 3 things:
1. Defendant owed plaintiff duty of care
2. Defendant breached that duty
3. Defendant caused injury to plaintiff
Contract Law
- Can be verbal or written but written best
- A valid contract is met when there is an:
1. Offer
2. Acceptance
3. Consideration
4. Intention
5. Capacity
Difference between Family Law and Contract Law
Contract Law
- Contract law is considered private law and protects typically equal footing people
Family Law
-Family law is public law and protects unequal footing people
- Includes Marriages, common law, divorce, separation, child support
- Common law (provincial)
What are the 5 types of child custody?
- Sole: with one parent 60% or more
- Shared: most common type, time split approximately equally
- Split: One child with mom the other with dad
- Joint: Goes hand in hand with shared custody
- Access: rights of non-custodial parent to visit child
Child Support info
-20% of gross income in support for one child and 32% in support of 2
- Cover no income greater than $150K
Spousal Support
- Less rigid than child support
-Factors affecting amount are
a. length of marriage
b. incomes of both
c. whether child support is being paid
d. unusual expenses
-taxable in hands of recipient
Division of Property
Very complex
- CL do not have auto entitlement to a division of matrimonial assets
- CL couples have to demonstrate their contribution
-Married couples split 50/50 on all assets obtained together (inheritances, life insurance proceeds and injury awards are typically excluded)
- to avoid selling the homes sometimes it can be worked out that one spouse gets the house and the other gets the investments and cottage
- Easy pension splits are 50/50 such as DCB, Group RRSP, DPSP - they are simply split
- DBP are harder, they may have to be split down the road
- Pension splitting in marriages also depends on how long the spouses were married **
What is Tenancy In Common?
- When property is jointly owned and no distinction has been made, it is assumed to be tenancy in common (it means the owners, which can be more than 2, each have ownership in the property
-ownership need not be equal parts, but owners have equal access rights
What assets are exempt from Probate?
- Death Benefits (life insurance) as long as Bene is named and alive at death
- RRSP and RRIFs, where proper bene is named
- Property owned Jointly with Right of Survivorship
- Property located in other provinces
- Multiple Wills (complex)
What does Probate do?
Verifies a will and Letters Probate allows the executor to wrap up a will entirely
What is the Probate fee in BC?
a. 0 - $25K None
b. $25k - $50K = $200 + .6%
c. Over $50K = $200 + 1.4%
