Month: November 2020
Substance > Form
Doctrine of merger
In the law of real property, the merger doctrine stands for the proposition that the contract for the conveyance of property merges into the deed of conveyance; therefore, any guarantees made in the contract that are not reflected in the deed are extinguished when the deed is conveyed to the buyer of the property.
Sui generis
Sui generis is a Latin phrase that means “of its/his/her/their own kind, in a class by itself”, therefore “unique”. A number of disciplines use the term to refer to unique entities. These include…
Four Senses of the Public Law-Private Law Distinction
Effectively Connected Income (ECI)
States connected with the conduct of that trade or business is considered to be Effectively Connected Income (ECI). This applies whether or not there is any connection between the income, and the trade or business being carried on in the United States, during the tax year.
https://www.irs.gov/individuals/international-taxpayers/effectively-connected-income-eci
dicta = opinion
8 Elements to satisfy for a valid trust
Intent
Capacity
Statute of Frauds
Legal purpose to trust
Trust must contain property
Trustee must have legal title
Beneficiary must hold equitable title
No violation of rule against perpetuities
Uniform Prudent Investor Act
The Uniform Prudent Investor Act, which was adopted in 1992 by the American Law Institute’s Third Restatement of the Law of Trusts, reflects a “modern portfolio theory” and “total return” approach to the exercise of fiduciary investment discretion.