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12 Cards in this Set
- Front
- Back
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May a trustee may assign trust income to a creditor on direction from the beneficiary?
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No, NY's spendthrift protection prohibits the assignment of trust income absent an express provision in the trust document.
Creditor could levy up to 10% of trust income, after a judgment. OR, reach income interest if the income was "excessive income." |
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What is the second look doctrine?
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Applied to an interest that appears to fail at its inception--allows review of a gift after both the initial grantor and the first grantee pass away. Gift will stand if it will satisfy all future interest requirements at the time first grantee dies.
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Can the trustee be considered a life in being for RAP purposes?
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No.
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Who has the burden of proving due execution of a will?
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Burden is on the propent of the will. Due execution is a question of fact to be determined by the fact finder
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Upon learning that a buyer of goods is insolvent, what can a seller do?
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Under UCC, a seller may stop delivery of goods in the possession of a carrier if he discovers the buyer is insolvent.
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Is a defendant denied due process when the prosecutor fails to disclose during plea negotiations that the principal witness has died?
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No, suppression by the prosecution of evidence favorable to an accused who has requested it violates due process where the evidence is material either to guilt or to punishment, irrespective of the good faith or bad faith of the prosecution. Does not apply here because a) not evidence, b) not exculpatory evidence, c) duty is proportional to D's request, so would need a specific request
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A contract may be discharged by an accord and satisfaction. What does this mean?
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An accord is an agreement in which one party to an existing contract agrees to accept, in lieu of the performance that she is supposed to receive from the other party, someother, different performance. Satisfaction is the performance of the accord agreement.
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During a construction project, where does the risk of loss lie? builder or contractor?
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The risk of loss during construction, absent contrary provisions, lies with the builder, who is generally in a better position to acquire insurance during the construction process
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Is the right to receive goods under a requirements contract assignable?
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At common law, the right to receive goods under a requirements contract generally was not assignable because the assignment could change the obligation of the parties. Under the UCC, the right might be assignable if the quantity requirement is not unreasonably disproportionate to the quantity originally contemplated by the parties
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When an owner breaches a construction contract after construction has been started but before construction is completed, what is the builder entitled to?
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the builder is entitled to recover any profit he would have derived from the contract plus any costs he has incurred to the date of the breach
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When is a contract divisible?
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if: (i) the performance of each party is divided into two or more parts under the contract, (ii) the number of parts due from each party is the same, and (iii) the performance of each part by one party is the agreed-upon equivalent of the corresponding part from the other party
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cause of action standard:
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under the CPLR, a plaintiff states a valid cause of action if, on its face, the plaintiff's complaint states any valid grounds for relief under the substantive law
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