Timeframes - Upload Flashcards
Agency is automatically terminated with this event (CL)
Death of principal - regardless of whether the third-party has notice of principal’s death
Some States: NOT terminated until the third-party has notice of the death
Time period after a partner’s dissociation by death or wrongful dissociation within which at least half of the remaining partners may express their will to wind up (for a partnership with a definite term)
90 days
Period after dissociation of a general partner in an LP after which the LP will undergo a non-judicial dissolution if it has no general partner (unless partners owning majority rights consent to continue)
90 days
Period after dissociation of the last limited partner after which the LP will dissolve unless it admits at least one limited partner
90 days
Maximum time prior to shareholders meeting that record date can happen
70 days
Notice must be given to all shareholders entitled to vote, and it must include meeting’s date, time, place, and description of the meeting’s purpose.
10 days (but not more than 60 days)
Under the RMBCA, a shareholder has a right to inspect and copy records of the corporation by providing at least [X] written notice.
5 days
- Unqualified right for (i) Articles of Incorporation; (ii) Bylaws; (iii) Resolutions by the Board of Directors concerning the classification of shares; (iv) Minutes of shareholder meetings for the past 3 years; (v) written communications sent to the shareholders within the last 3 years; (vi) names and business addresses of the current Directors and Officers; and (vii) its most recent Annual Report
- Certain accounting records (annual financial statements prepared for the corporation for its last three fiscal years and any audit/other reports with respect to such financial statements), excerpts of the Board of Directors’ meeting minutes, and the record of shareholders IF (and only if) made during regular business hours at a reasonable location specified by the corp., made in good faith and proper purpose, describe purpose with particularity, and requested records are directly connected with purpose
Special meetings require [X] notice (of the date, time, and place of the meeting). FOR DIRECTORS
2 days
Quorum for BoD action requires a majority of directors to make quorum. If articles of incorporation lowers the number, it cannot be less than [X] of the directors
1/3 of directors
A derivative suit CANNOT be commenced until [X] after the demand for derivative action, UNLESS the corp rejects the demand or will suffer irreparable harm if forced to wait.
90-days
An LLC is dissolved, among other rules, after the passage of this time period where the LLC has no members
90 consecutive days
Under the RMBCA, shareholders DO NOT enjoy preemptive rights unless such rights are explicitly granted in the corporation’s Articles of Incorporation. Additionally, preemptive rights DO NOT apply to: shares authorized in the Articles of Incorporation that are issued within [X] months of incorporation
6 months
Additionally, preemptive rights DO NOT apply to: (1) shares issued as compensation; (2) shares issued to satisfy conversion or option rights created to provide compensation; (3) shares authorized in the Articles of Incorporation that are issued within 6 months of incorporation; (4) shares issued for consideration other than money; OR (5) shares issued without general voting rights but with preferential rights to distributions.
Period after a person became a judgment lien creditor after which priority extends to future advances secured (unless the advance is made without knowledge of the lien)
45 days
Period within which prompt objection must be made for a merchant’s confirmatory memorandum exception to be invalid
10 days
Maximum valid duration of a proxy
11 months
Defendant MAY remove a case to federal court, among other things, if removal is sought within this time period of service of the Summons or receiving the initial pleading (whichever is shorter).
30 days
Timeframe within which Summons & Complaint must be served on defendant after filed with the court
90 days
Ex Parte TRO automatically expires after [X] days (unless court sets a short time or court extends it for good cause AND parties consent).
14 days
The adverse party may move to dissolve or modify the Ex Parte TRO on this amount of notice
2 days
Amendments to Pleadings relate back to new defendant so long as new party received notice of the original action within [X] of filing
90 days
- AS LONG AS same transaction and occurrence & the new party knew or should have known that the action would have been brought against it but for a mistake in the party’s identity
Without request, each party MUST provide initial disclosures to opposing parties within this timeframe after the Rule 26(f) “meet and confer” conference
14 days
Maximum duration of a deposition (limited to no more than X hours)
7 hours in one day
(and no more than one day)
Period during which a party cannot file a Rule 11 sanctions motion with the court (after serving the motion on the offending party) to give them time to withdraw/correct the paper/pleading
21 days
Maximum time to file renewed JMOL motion after entry of judgment
28 days
Maximum time to file a motion for a new trial after entry of judgment
28 days
Maximum time to make application for an appeal under the Certified Appeal Exception (after entry of the order)
10 days
Maximum time to file petition for permission to appeal after entry of an order granting/denying class-action certification
14 days
Period during which a party may file a petition for permission to appeal (after entry of an order) - in relation to Certification of class action
14 days
Leave of the court is required if more than this time period has passed since Defendant has served a Summons & Third-party complaint upon the third-party
14 days
Timeframe permitting amendment as of right within [X] after service of: a) the original pleading; OR b) a responsive pleading or pre-answer motion to the original pleading.
21 days
Period during which an appeal must be filed (after entry of the judgment)
30 days
Time period during which a party can amend a pleading once as a right after serving the original pleading OR a responsive pleading or pre-answer motion to the original pleading.
21 days
Time period during which a party can amend a pleading once as a right after a responsive pleading or pre-answer motion to the original pleading
21 days
Maximum irrevocability period for a UCC Merchant’s Firm Offer
3 months
A buyer’s misrepresentation of solvency in writing within [X] prior to the delivery of goods removes the [X-day] limitation of right of seller to make a demand to replevy identified goods
A buyer’s misrepresentation of solvency in writing within [3 months] prior to the delivery of goods removes the [10-day] limitation of right of seller to make a demand to replevy identified goods
Contracts that cannot be fully performed within [X] must be in writing under the Statute of Frauds
1 year
Contracts subject to Statute of frauds include those that are sale of goods worth this much or more.
500
Police may reinitiate questioning if a counsel is present, suspect initiates communication, OR the suspect was released from custody after this amount of time (as long as the suspect is re-advised of Miranda and they have provided a knowing and intelligent waiver)
14 days
Minimum notice period prosecutor must give defendant before trial of prior bad acts evidence to be offered (unless good cause is shown)
15 days
Maximum potential imprisonment period before right to jury trial applies under 6th Amendment
6 months
Period after which a conviction is not admissible for impeachment (from conviction or release from jail whichever is later) unless: (1) probative value outweighs prejudicial effect; AND (2) proponent provides reasonable written notice to the adverse party
10 years
Definition of a felony - crime punishable by death or imprisonment over [X]
1 year
Cutoff date for ancient documents exception to hearsay - document must have been prepared before this date
January 1 1998
Minimum time child must have lived with a parent for UCCJEA ‘home state’ jurisdiction
6 months
Minimum land contracts term to be subject to Statute of Frauds
1 year
Example of statutory period for adverse possession (varies by state)
10 years
Minimum value of goods at time of delivery to qualify as a consignment
1000
Damages for a secured party’s failure to comply with applicable rules - a secured party is liable to debtor for this amount in Statutory Damages
500
Day on which a perfected security interest in proceeds becomes unperfected after attachment (unless certain exceptions apply)
21st day
Period within which a security interest in proceeds must be perfected to maintain perfection
20 days (a perfected security interest will attach to any identifiable proceeds from the disposition of collateral, however, that interest will become unperfected on the 21st day after attachment unless the above happens).
In a non-consumer goods transaction, if a person files a financing statement with respect to a PMSI before or within [X] after the debtor receives delivery of the collateral, then the security interest takes priority over conflicting interests which arise between the time the security interest attaches and the time of filing
20 days
Time limit for seller to demand return of goods from insolvent buyer (to exercise right to replevy identified goods)
10 days
A security agreement MAY create (or provide) for a
security interest in after-acquired collateral EXCEPT for: (a) a commercial tort claim; OR (b) consumer goods (other than an accession when given as additional security) unless the debtor acquires rights in them within [X] after the secured party gives value
10 days
Perfect PMSI in a Fixture has priority if it was perfected before the goods became fixtures or within this timeperiod thereafter (AND 1) debtor has interest of record or is in possesion of the real property and 2) Ownership interest arose before the goods became fixtures
20 days
Partial Comparative Negligence –> if P is this percent or more at fault, then P’s claim is barred. If P is less than this percentage at fault, then damages are reduced by the percentage of his own fault.
50%
Period for declaring disclaimer renouncing legal right of inheritance (Some States)
9 months
Period that must pass after death before any creditor can be appointed as personal representative (last in priority among surviving spouse who is a devisee, another devisee, surviving spouse, or any other heirs)
45 days
If no proof by clear and convicing evidence that one person survived the other by this period of time, then the property is distrubuted as if that person predeceased the other person (called “Simultaneous Death”)
5 days
