Marital Agreements Flashcards
Are parties permitted to make contractual agreements regarding their property and spousal support?
Yes!
What must these agreements be?
In writing and signed
What are these agreements subject to?
Contract law
Can these agreements be modified?
Yes in writing
Do marital agreements require separate consideration?
No, there is a mutual promise and benefit
What law is applied in determining choice of law?
The law of the state that has the most significant relationship to the marriage
When will a prenuptial agreement not be enforce?
If: 1) There was no full and fair disclosure as to assets and obliations;2) The terms of the agreement were not fair and reasonable, and 3) the agreement was not entered into voluntarily
In order for a prenuptial agreement to be fair, what must be present?
Procedural and substantive fairness.
What is procedural fairness?
The understanding and execution of the agreement must be fair
What is substantive fairness?
Terms of the contract must be fair
