Feb 24 Flashcards
(46 cards)
Arrearages will be assessed for court ordered awards or contractual obligations only (e.g. PSA)?
Both!
If PSA in court decree, then can one spouse reduce agreement orally?
No, must get new court order
How can you change spousal support?
Hardship by material change in circumstances
How to change child support?
Best interest of the child + material change in circumstances
Contempt of court is appropriate to
Enforce a direct court order
What punishment allowed with contempt of court?
Fines and incarceration if there’s been wilful disregard of authority of court
If there’s been mutual mistake (innocent omission or insertion of a material stipulation),
court will enforce terms of contract that parties actually intended
Are terms about real estate taxes covered by merger doctrine?
No, collateral to deed.
Under merger doctrine, does closing statement extinguish a purchase contract?
No.
Is a lawfully adopted zoning ordinance an “encumbrance” breaching covenant of free from encumbrances?
No
Encumbrance =
Physical intrusion or encroachment or superior title or interest in land, including a judgment lien
If judgment lien not enforced, can the B actually have damages?
No.
A principal is liable on instrument signed by
An agent or agents if authorized.
Accommodation party is a type of
Surety or one who guarantees debt of another who does not receive direct benefit from the instrument
Cosigner is presumed to be an
Accommodating party
Cosigner gets all the right sof the
Creditor
Alteration =
Unauthorized change that purports to modify obligation of a party
What does alteration do if not done fraudulently
obligor remains liable on original terms of obligation
What does alteration do if done fraudulently?
Discharges liability of the obligor
Forged signature - duties
Duty of reasonable care; must be reported to bank within 1 year of creation of instrument/issuance
Security interest enforceable once
Attached to collateral
Interest attaches to collateral when
1) value from creditor
2) debtor has rights to collateral (pledged rights)
3) necessary terms are in security agreement and agreement satisfies SOF OR secured party has possession of collateral
Contribution claim requirements:
- Negligence without involving moral turpitude
- Must have been liable to the plaintiff otherwise