BLAW211 FINAL EXAM QUESTIONS WITH COMPLETE SOLUTIONS GRADED A+
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Course
BLAW211
Institution
BLAW211
BLAW211 FINAL EXAM QUESTIONS WITH COMPLETE SOLUTIONS GRADED A+
Nemo dat rule - Answer-one cannot give what one does not have (if fraud committed or wilful blindness, it is defective title/void transaction
Fraud against unregistered interest - Answer-knowledge that any interests exists is not eno...
BLAW211 FINAL EXAM QUESTIONS
WITH COMPLETE SOLUTIONS
GRADED A+
Nemo dat rule - Answer-one cannot give what one does not have (if fraud committed or
wilful blindness, it is defective title/void transaction
Fraud against unregistered interest - Answer-knowledge that any interests exists is not
enough to constitute fraud, has to be actual fraud. As per lok yew v port Swettenham,
registration of fee simple overrides unregistered interested unless seeking to cheat
unregistered interests. Knowledge of unregistered interest existing isn't enough to
constitute fraud
Mortgagor - Answer-borrower
Mortgagee - Answer-lender
Registrars sale - Answer-by registrar of the court. Ensures neutrality and fair price
What is the priority of payments when a mortgage is defaulted on? - Answer-Costs of
sale then secured mortgages by time of registration, the equitable mortgages by time of
signing. Then owner.
What is the difference between legal and equitable interests? - Answer-legal interests
are enforceable, require registration in torrens system. Equitable interests are defeated
by bona fide purchaser and no formalities.
What restrictions of use exist for land/buildings - Answer-RMA - use of air, land, water
Building act - ensures quality
Public works act - land can be taken if compensated
Conon law nusisance - don't be a dick to neighbours
Leasehold estate: - Answer-- duration specified in lease and therefore certain
- right to renewal clauses
- right to occupy
life estate - Answer-- duration for life therefore uncertain
- life estate is subject to the rights of hold of land after life interest
- no right to waste or alter property
, partnership - Answer-a relationship between persons carrying out a business in
common with the view to make a profit
difference between Partnership v company - Answer-compare:
- entity
- definitions (agent, ostensible authority)
- liability of partners, directors and shareholders
- governance
- duties
- constitution v agreement
- formation and closure of each
what to include in a partnership agreement - Answer-- capital contribution
- profit/losses allocation
- management duties
- partner authority
- termination clauses
- expulsion
- restraint of trade
duties of a partner to one another - Answer-full disclosure of all partner matters, have an
obligation to act in good faith to both partners and the partnership itself. partner does
not make a profit at the firms expense or compete with the firm
limited partnerships - Answer-needs atleast one general partner and one limited partner.
exists to ease raising of capital by removing some investor risk.
obligations of partners to outsiders - Answer-no doctrines of ultra vires exists (if they
enter a contract beyond their powers it is still legal) liabilities are typically joint and
severally liable for debts
are partners liable for torts committed by other partners - Answer-yes, see sexual
harrasment example: proceedings commissioner v ali hatem
when is the company veil lifted? - Answer-fraud or sharp practice or existence of a
sham
salomon v salomon
chen v butterfield
stratum estate - Answer-- land divided into units
- same rights as fee simple
- obligation to pay for shared common areas.
- estate is created by statute
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