Corporations
What is the rule statement for Corporations?
A corporation is a legal entity that exists separate from its owners, thus shielding the owners and managers from liability.
What is the rule statement for Hearsay?
Hearsay is an out-of-court statement offered to prove the truth of the matter asserted. It's only admissible if it falls under an exception.
What is the rule statement for Adverse Possession?
A person in physical possession of land may acquire title to land owned by another if possession is (1) open and notorious, (2) continuous, (3) Actual, (4) exclusive, and (5) hostile to the true owner.
What is the 4th Amendment Search and Seizure Rule?
The 4th Amendment, applicable to the States through the 14th Amendment, provides 1. State action shall not violate people's right to be secure against 2. searches and/or seizures, 3. that is unreasonable.
What is the 6th Amendment Confrontation Clause rule?
The 6th Amendment, as applicable to the states via the 14th Amendment, gives a criminal defendant the right to confront witnesses against him. An out of court statement violates this right when 1. the statement is testimonial, 2. the declarant is unavailable, and 3. the defendant did not have an opportunity to cross examine the witness before trial.
What is the rule statement for Piercing the Corporate Veil?
Generally, shareholders, directors, and officers are not personally liable for the corporation's liabilities. However, a court can pierce the corporate veil and hold shareholders personally liable under one of the following theories: (1) Alter Ego the corporation is acting as the alter ego of, (2) Undercapitalization the corporation was inadequately capitalized at formation, or (4) to prevent fraud.
Whatr is the rule statement for Excited Utterance?
(In CA, spontaneous statement) An excited utterance is a statement relating to a startling event or condition made while the declarant was under the stress of the excitement. These statements are admissible whether or not that the declarant is available
What is a Tenancy In Common?
A tenancy in common is a concurrent estate held with no right to survivorship tenants can hold different interests in the property but each is entitled to possession of the Whole. Interests are alienable, devisable, and inheritable.
When does a Search occur?
A search occurs when state action intrudes upon a constitutionally protected place. A place is constitutionally protected where there is a reasonable expectation of privacy.
What is the 10(b)5 Insider Trading rule?
Insider trading generally occurs when someone trades a security while in possession of material non-public information. This rule prevents any person from using insider information, fraud or deception in the purchase or sale of any security by means of any instrumentality in interstate commerce.
What is the rule statement for Derivative Suit?
A shareholder may file a derivative suit against a corporation in order to prevent the corporation from harming share value. In order to file a derivative suit, a person must be a shareholder, must have made a written demand upon the corporation, allowed the corporation 90 days to respond to the demand, and they must be filing suit in the best interests of the corporation itself.
What is the rule statement for Character Evidence?
Evidence of a person's character is not admissible to show propensity but may be admissible for any non-propensity purpose, such as when character is an ultimate issue in a case or to impeach.
What is a Joint Tenancy?
A joint tenancy is a conveyance of real property to two or more persons which includes a right of survivorship. It requires the four unities: Time, Title, Interest, and Possession.
What is the 5th Amendment Miranda Rule?
The 5th Amendment applicable to the States through the 14th Amendment, provides that no person shall be compelled in a criminal case to be a witness against himself. A statement obtained as the result of 1. Custodial 2. Interrogation may not be used against a suspect at trial unless the police:
A. inform the suspect of Miranda rights and the suspect
B. intelligently waives those rights.
What are the 5 hearsay Exceptions where the declarant MUST be Unavailable?
FRE 804 Hearsay Exceptions when declarant unavailable
1. Former Testimony Exception
2. Dying Declaration
3. Statement Against Interest
4. Statement of Personal/Family History
5. Statement Against Party that Caused Unavailability
When does Express Authority occur?
Express authority occurs when the principal has explicitly told the agent that they are entitled to act on the principal's behalf.
What is the rule statement for 404(b) Prior Bad Acts?
Prior crimes, wrongs, or acts are not admissible to show propensity. However, evidence of prior bad acts may be admissible for other relevant non-propensity purposes, such as proving motive, identity, absence of mistake or accident, intent, common plan or scheme, opportunity, or preparation.
What is a Tenancy For Years?
A tenancy for years is an estate measured by a fixed and ascertainable amount of time, but can be for any length of time. A tenancy for years automatically terminates at the end of the lease period. A lease longer than a year is subject to the statute of frauds and must be in writing.
What is the Exclusionary Rule?
Under the exclusionary rule, evidence obtained in violation of the 5th Amendment may not be introduced at trial to prove guilt.
What is the Best Evidence Rule?
A party must provide the original document when testifying to contents of a writing, a photocopy is an acceptable substitute. Oral testimony is allowed only after showing the original is not available for some reason, other than misconduct. In California, this is called the Secondary Evidence Rule. California accepts duplicates and handwritten evidence of the contents of an original document.
What is the Deep Rock Doctrine?
A stockholder who makes a loan to the corporation will have their loan subordinated to the claims of outside creditors if the firm is shown to be mismanaged or undercapitalized.
What is the Public Policy rule for Subsequent Remedial Measures?
Subsequent remedial measures are not admissible to prove liability but may be used to show ownership or control. In the FRE only, it can't be admitted to prove defect of design in a strict products liability case.
What is an Easement?
An easement is an agreement where a dominant party buys the right to use someone else's land, that would be the servient estate. This agreement must be in writing to satisfy the statute of frauds.
What is the Fruit of the Poisonous Tree Rule?
Under the Fruit of the Poisonous Tree Doctrine derivative physical evidence obtained from an inadmissible confession due to police failure to inform a suspect of Miranda Rights is admissible.
What is Congresses' Taxing Power?
Congress has the power to tax, and it will be upheld as long as the tax has a reasonable relationship to revenue production. Export goods to foreign countries may not be taxed by Congress.