Term Paper on "Sisters, Ruth and Stella, Owned a House"

Term Paper 4 pages (1463 words) Sources: 0

[EXCERPT] . . . .

Sisters, Ruth and Stella, owned a house as joint tenants with right of survivorship. Stella died after Ruth sold her half interest to Roy. Roy claimed the entire property. Although joint tenants possess an undivided interest property, joint tenancy comes with certain restrictions. Roy's claim was based on one of those restrictions, the right of survivorship. However, an additional restriction is that joint tenants cannot sell without obtaining the permission of the other tenants. Therefore, the resolution of Roy's claim depends on whether Stella consented to the sale.

Harry Gordon gave his son Murray $40,000. Murray placed $20,000 in each of two custodial accounts for his children under the Uniform Gifts to Minors Act (UGMA). After Murray closed the accounts, he gave the balance to Harry. When Murray and his wife separated, she sought the money for their sons. Murray's wife's position was that the deposits were irrevocable gifts. This position was accurate, despite Murray's contention that the money was never intended as a gift, but was placed in those accounts so that Harry could avoid taxes. Gifts to minors under the UGMA are irrevocable. Therefore, once Murray placed the money in the accounts, the funds became the property of his sons. Therefore the wife was entitled to the money for the sons.

7. Richard Coddington opened a bank account with his mother, Amelia. Richard later married Margaret. Upon Richard's death, Margaret claimed a share of the account. Under New York law, there is a presumption that bank accounts opened under two names or to the survivor creates a joint tenancy, but Margaret claimed that the presumption of a joint tenancy was overcome by evidence she claimed demonstrated Richard's sole ownership of the account. This evidence was in the form of substantial withdrawals during Richard's lifetime. The statutory presumption could only be overcome by overwhelming evidence of another intent. Richard and his mother signed cards that indicated a right of survivorship.

Furthermore, Richard's substantial withdrawals during his lifetime did not deprive his mother of the same right to make the same type of withdrawals.

11. After attending lunch at the Bay View Restaurant, both John and Lynn's coats turned up missing. John had checked his coat, while Lynn had hung hers on a hook near the booth. Both sued the restaurant, under the theory that it was the bailee of their coats and had a duty to return them. John was correct because he gave his coat to a Bay View employee and entrusted that employee with the coat's safe keeping. When the attendant left the coat unattended he breached the duty the Bay View owed to John. Lynn was incorrect. Because she kept possession of her coat, Lynn also kept the responsibility to keep her coat safe. In fact, the presence of a coat check should have alerted Lynn to the fact that she was responsible for the safekeeping of her own coat if she kept it in her possession.

14. The truck that Contract Packers rented from Hertz Truck Leasing had a brake malfunction, which resulted in an injury to Cintrone, a Packer's employee. Cintrone sued Hertz, alleging a breach of the implied warranty that the truck was fit for use. Hertz's response was that implied warranties did not apply to bailments for hire. Hertz was incorrect. A bailment for hire is a sale of the use property for a certain period of time. Therefore, Packer was a purchaser and was entitled to protection under the implied warranty, which means that Cintrone should be entitled to compensation from Hertz.

Chapter 22

2. R-P took measurements and designed artwork for a new type of packaging for Kern's bakery. Kern's placed a $13,000 order with R-P based on those measurements and artwork, but returned the packages and refused to pay because of problems with size and artwork. The material conformed exactly to the specifications in Kern's order. When R-P sued for breach of contract, Kern claimed that there was no written contract and that, due to the price of the contract, an oral agreement could not be enforced under the statute of frauds. A recognized exception to the statute of frauds is that when an order conforms to industry standards, the requirement of a written contract is waived and R-P could enforce the contract.

3. Smythe wrote to Lasco to ask about the price of a freezer. Lasco's reply was that… READ MORE

How to Reference "Sisters, Ruth and Stella, Owned a House" Term Paper in a Bibliography

Related Term Papers:

Economic Benefits of Buy a House Get a Green Card Research Proposal

Buy a House, Get a Green Card

Fundamental objective of this proposal is to present the economic benefits of "Buy a House, Get a Green Card." Implementation of the proposal… read more

Research Proposal 8 pages (2613 words) Sources: 8 Topic: Economics / Finance / Banking

---

House on Mango Street Significance Term Paper

House on Mango Street

Significance of a House' in the House on Mango Street

In the 'House on Mango Street', author Sandra Cisneros uses the symbol of a house to… read more

Term Paper 3 pages (1243 words) Sources: 1 Style: MLA Topic: Urban Studies / City Planning / Housing

---

Hedda Gabler Stella Kowalski Term Paper

Stella Kowalski and Hedda Gabler

Henrik Ibsen's character, Hedda Gabler, shares some similarities with the oppressed housewife, Stella Kowalski in Tennessee Williams' play, "A Streetcar Named Desire."

Ibsen's play was… read more

Term Paper 4 pages (1368 words) Sources: 2 Style: APA Topic: Women / Feminism

---

House on Mango Street Term Paper

House on Mango Street is a brief and apparently very simple story, told in the innocent voice of a school-girl who describes the house in which she and her family… read more

Term Paper 5 pages (2291 words) Sources: 0 Topic: Urban Studies / City Planning / Housing

---

American Dream Is a Concept Case Study

American Dream is a concept that most contemporary people have aspired to at some point in their lives, expressing their desire to take advantage of a community promoting freedom and… read more

Case Study 5 pages (1604 words) Sources: 3 Topic: Family / Dating / Marriage

---

View 100+ more related papers  >>