Please explain why a settlor would choose to create a Discretionary Trust over an Absolute Trust. Adam and Liz are married and they have two children: Robert, age 32, and Clare, age 28, that are financially independent. Robert is married and has one child and Clare is going to get married. Both Robert and Clare are planning to have more children. Adam's and Liz's total estate compromises of: Joint owned property: Adams's ISA: Liz's ISA: Adam's pension: Liz's pension: Cash savings (joint account): Adam's VCTS: Joined owned Buy to Let property: £1,500,000 £350,000 £200,000 £870,000 £650,000 £230,000 £150,000 £350,000 They also have the two following mortgages: Mortgage on residential property: £130,000 Buy To Let mortgage: £80,000

Olav starts Power Cells to make and sell batteries. Later, Olav contracts with Quinn to invest additional capital in the firm in exchange for 25 percent of the profits. Olav and Quinn are not partners in Power Cells because

can you tell and explain me exactly, what is the probable outcome of Caspers’s suit against Daniella?

A married couple with two children owns a property that they have homesteaded. If the wife dies, what estate will the husband have in the property? a life estate, with their children as remaindermen a fee simple estate No estate: the children will inherit the house fee simple. It depends on what was in the wife's witt.

Skip and Jack are the shareholders of the Blue Fish Event Corporation. Skip and Jack regularly put on classy events on or near the beach, so they have a special insurance policy to protect their assets. Business has been slow as fewer large beach weddings are taking place, so Skip and Jack use a large fan to blow down and damage most of their décor assets, some of which were personal assets of Skip and Jack, to collect the insurance benefits. (a) Assuming their acts are proven, will a court allow Skip and Jack to recover the insurance money? (b) Is this a situation where the corporate veil may be pierced? Why or why not? (c) What would it mean for Skip and Jack if the corporate veil is pierced in this situation?

Willams and Nick are childhood friends. Nick had lost his right hand in an accident in childhood. They meet after a long time in a restaurant. On being asked, Nick tells Willams that he feels very discontented in managing his family business after the death of his father as it doesn't match his areas of interest. Willams knows that Nick possesses extraordinary skills in management although he hasn't acquired any professional degree in management. Therefore, he asks Nick to wind up his business in India and join him in his hotel business in Dubai as an Assistant Manager in the Sales and Marketing Division. In the context of the above case: 1. Can Nick be deployed to the post of Assistant Manager in the Sales and Marketing Division though he hasn't acquired any professional degree in management? Explain by giving suitable justifications in support of your answer. 2. List any two values that are reflected in this act of Willams.

one y Jason just closed on the purchase of real estate under an installment sales contract. Which of the following accurately describes Jason's present status? Jason acquires equitable title for now but can NOT take possession while paying off the loan. Jason acquires legal title immediately and can take possession while paying off the loan. Jason acquires equitable title for how and can take possession while paying off the loan. Jason acquires stocks in the corporation that owns the property.

To Partner or Not to Partner John Willis, who is 27 and single, had just completed his fifth year of employment as a carpenter for a very small homebuilder. His boss, the sole owner of the company, is Tyrone Young. A few days ago, Tyrone asked John if he would like to become a partner, which he could do by contributing $70,000. In turn, John would receive 40 percent of all prof- its earned by the business. John had saved $30,000 and could borrow the balance from his grandmother at a low-interest rate, but he would have to pay her back within 15 years. John was undecided about becoming a partner. He liked the idea but he also knew there were risks and concerns. He decided to talk to Tyrone at lunch. Here is how the conversation went. John: I've been giving your offer a lot of thought, Tyrone. It's a tough decision and I don't want to make the wrong one. So I'd like to chat with you about some of the problems involved in running a business. Tyrone: Sure. I struggled with these issues…

You are an assistant to the attorney for Black Acre Holdings Company. discuss the legal issues and predicting the likely outcome of the case below:   For several months, the Black Acre Holdings Company has been trying to acquire a large piece of land where they want to build a large luxury apartment complex. The land belongs to 99-year-old retired country singer Smokey Jones. A few years ago, Smokey wrote a will indicating that the land would pass to his grandson Billy Jones upon Smokey's death. Last month, Smokey met with the CEO of the Black Acre Holdings Company to discuss a deal for the land. During the meeting, after drinking several glasses of whiskey, Smokey verbally agreed to sell the land to the Black Acre Holdings Company for 50million dollars. The CEO was really excited because he believed the land is valued at a significantly higher price. After the meeting, the CEO stated that he would have the paperwork ready within 2 weeks and then Smokey and the CEO shook hands on it.…

Which of the following represents an agency relationship?     1)  Horace wants to sell his farm and hires Marcie as his realtor. The two agree that if Marcie finds a buyer for the farm at Horace's price, then Horace will pay Marcie 7% of the price he receives.   2)  Bob dies and leaves his assets in a trust for his minor child, Lilly. In the trust, Bob appoints Reggie as the trustee to act for Lilly's benefit. Since Reggie has a fiduciary duty to Lilly as trustee, Reggie is Lilly's agent.   3)  Lucy contracts to sell her car to Tony for $5,000. Tony purchases the car only to find it not in the condition that Lucy described it. Tony is claiming that Lucy violated her fiduciary duty to him as his agent under the agreement.   4)  Hunt is an attorney of questionable ethics. Roger, one of Hunt's clients, is arrested for DUI, but appears to be too intoxicated to consent to a breath test. Hunt is contacted by…