Dont confuse property ownership rights with the physical resources themselves.
There are different ways to describe and distinguish types of property.
Real vs. Personal Property
Real Property: Land and immovable buildings, houses & thing
Wills, Trusts, and Estates
A written document declaring how a person wants his/her property distributed upon death.
Requirements for making a valid will:
Every state has a statute of wills that establishes the requirements for making a valid wil
Most of real property law is ancient, and dates back hundreds of years.
There are different types of real property, all related to LAND.
Real property is:
the land itself
trees, timber, plants, crops
soil, minerals, and other thin
Mergers and Acquisitions
Friendly M & A:
These all require the approval of the respective Boards of Directors and majority vote of
the shareholders of each corporation.
1. Mergers: one corporation is absorbed by another and ceases to exist.
Franchising was originally used extensively by car and beverage industries. Now, the
U.S. has over 700,000 franchise outlets which account for over 25% of retail sales and
15% of gross domestic product.
Franchise refers to both the business out
Family Law, aka domestic relations law involves marriage, prenuptial agreements,
dissolution of marriage, child custody, spousal and child support, and division of
Marriage is status conferred upon two people. It is NOT a con
REGULATE PUBLIC & PRIVATE PROPERTY
PROTECT NATURAL RESOURCES
PROTECT ENDANGERED SPECIES
MULTI-LEVEL SOURCES OF ENVIRONMENTAL LAW:
It has been said that analyzing an environmental law issue is like peeling an onion. You must loo
DOUBLE TAXATION OF CORPORATE INCOME
There is much discussion about the double taxation of corporations. Heres how it
Gross Corporate Income
- Allowable Deductions
= Taxable Corporate Income
- Income Taxes
= Net Corporate Profit
Directors may decide
Banks and Checks
Creditor Debtor Relationship
Is Created when a customer deposits money into the bank
The customer is the creditor and the bank is the debtor
Principal Agent Relationship
The deposit is a check that the bank must collect fo
Classnotes: Antitrust Law
Competition is at the heart of capitalism. However, as industries developed after the Civil War,
many similar industries, which would otherwise be competitors, entered into cooperative
arrangements with the intent to create monop
The fiduciary relationship which results from the manifestation of
consent by one person to another that the other shall act in his behalf and subject
to his control, and consent by the other so to act.
Restatement (Second) of Agency
Agency Law (cont.)
Agents Fiduciary Duty of Loyalty to the Principal
A fiduciary is someone in a position of trust who owes fiduciary duties to
another. Typically, the fiduciary is managing property of another or acting on
behalf of another (as an agent d