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3 Cards in this Set
- Front
- Back
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Permanent restraints on alienation is disallowed, because it takes the property out of the stream of commerce. Name 3 types of restraint on alienation:
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1. Disabling - any attempted transfer is ineffective
2. Attempted - transfer ends the holders interest 3. Promissory - attempted transfer breaches a covenant |
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Is a total restraint of alienation on stocks, in a closely held corporation valid?
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Yes, because of the closeness of the persons involved, the other stockholders have an interest in who their associates are.
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What is a Joint tenancy and what is its most distinguishing feature?
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JT -
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