Stockholder Derivative Lawsuit Rules

Summary

Brief Summary: A stockholder can bring a derivative lawsuit on behalf of the corporation in any judicial district where the corporation could have sued the same defendants, depending on jurisdictional rules. Venue is proper in the city where both parties reside and the incident occurred. Blake can file a petition for a writ of certiorari to the U.S. Supreme Court if he believes his arrest was unconstitutional. The FCC derives its authority from the Communications Act of 1934 and Telecommunications Act of 1996. Jim can cite Professor Kingsfields book in court, but it will serve as persuasive authority. Peters claim meets diversity jurisdiction requirements. The defense of impracticability requires more than unforeseen circumstances. The Bargain Theory of Consideration emphasizes mutual exchange of value. Not all bargain promises are enforceable. Consideration is the exchange of goods or services and prevents contract voidability. The legal duty rule applies when the pre-existing duty is owed to someone other than the promisor. The UCC allows fair and equitable modifications in light of un

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Are you sure?
Yes, I'm sure. However, the specifics may vary depending on the country or state. Can you please tell me your location so I can provide the most accurate information?
in a hypothetical case where a plaintiff and defendant, both resides in the same city, and the incident occurred in that city, what is the likely outcome regarding the venue? Please choose one of the following answers provided only; venue is relevant and such cases, venue is proper any court within the state, venue depends on the judges, discretion, or venue is proper in the city were both parties reside?
In the hypothetical case you described, the venue is proper in the city where both parties reside and where the incident occurred. This is based on the general principle that lawsuits should be heard in the location where the incident in question happened and where the parties involved reside.
Which answer provided is it?
The answer to your question is: "venue is proper in the city where both parties reside." This relates to the hypothetical case where both plaintiff and defendant reside in the same city and the incident occurred in that city.
Are you sure?
Yes, I'm sure. However, actual legal proceedings might vary depending on the specifics of the case and local laws. Always consult with a legal professional in your area for tailored advice.
Blake is charged under state law with drug possession within intent to distribute an illegal substance, a first-degree felony. He believes his arrest was based on an unconstitutional search and seizure under the fourth amendment of the United States constitution. His legal defense upon this argument, Blake loses in the state trial court, the state of pellet court, and the state Supreme Court. Explain whether he can appeal the decision to the United States Supreme Court.
Blake can file a petition for a writ of certiorari to the U.S. Supreme Court. This is a request for the Supreme Court to review the decision of the lower court. It's important to note that the Supreme Court is not obligated to take all cases and it usually takes cases that have national significance, present an important question of law, or need to harmonize conflicting decisions in the federal appellate courts.
The Federal Communications Commission is concerned about the increased tendency of TV viewers to complain about boring commercials. Therefore, the Federal Communications Commission wants to pass a law that states that before a tv as is run, it must be tested by a focus group that will determine that it will not bore audiences. From where does the Federal Communications Commission derive ultimate authority to pass this law? Explain?
The Federal Communications Commission (FCC) derives its authority from the Communications Act of * and Telecommunications Act of *. These laws grant the FCC the power to regulate interstate communications by radio, television, wire, satellite, and cable. However, the proposal you mentioned would involve complex considerations of free speech and commerce.
Professor Kingsfield, a tenured, Harvard law professor, writes a book entitled contracts in our daily lives. In the book he writes that contract should be enforced only if the both parties had roughly equal bargaining power at the time of of the signing of the contract contract. Jim is trying to get out of a contract he signed and would love to site professors Kingfield book in court. May he do so? What effect would the citation of the book likely have?
Jim can certainly cite Professor Kingsfield's book in court. However, its effect would largely depend on the judge's discretion. The book could be used as a persuasive authority but it is not binding law. In contract law disputes, courts primarily apply statutory law and case law.
Peter and citizen of Rhode Island bring suit and federal court against Homer as citizen of Illinois. Peter brings three claims a negligent claim for *,* a breach of contract for *,* and a civil battery claim for *,*. Explain whether Peter’s claim meets the requirements of Federal subject matter jurisdiction, specifically diversity jurisdiction.
Peter's claim appears to meet the requirements of diversity jurisdiction as:
- Parties are from different states (Rhode Island and Illinois)
- The claim exceeds $*,* in total
However, it's vital to ensure no other factors would prevent a federal court from hearing the case.
Why was unforeseen circumstances, forcing a shipping company to travel around Cape Horn and instead of through the SUEZ canal not enough to allow a defense of impracticability?
The defense of impracticability involves more than just unforeseen circumstances. It may also require:
- The event making performance impracticable was due to an event the non-occurrence of which was a basic assumption of the contract.
- There's no language in the contract assigning risk to the party claiming impracticability.
It's possible the courts determined these elements weren't met in the shipping company's case.
in the context of contracts what does the bargain theory of consideration emphasize?
The Bargain Theory of Consideration emphasizes that:
- There must be a mutual exchange of value (consideration) between parties.
- The consideration must be the result of a "bargain" or agreement between the parties.
- The consideration each party provides must be legally sufficient.
Please choose. One of the following answers provided only; consideration is equivalent to any factor that makes a contract enforceable, not all bargain promises are enforceable, bargain promises are limited to bilateral contracts, or consideration is only valid if explicitly stating in writing.
The answer to your question is: "Not all bargain promises are enforceable". This is because while a contract requires a bargain, not all promises made within the bargain are enforceable by law.
And the context of contracts, what is consideration and why is it essential for a contract to be enforceable? Please choose one of the following answers provided only; consideration is the price paid for a contract and it ensures fairness in the deal, consideration is the mutual agreement between parties and validates. The contract, consideration is the commitment made by parties and insures mutuality of obligation, consideration is the exchange of goods or services and prevent contract avoidability? Ability?
The answer to your question is: "Consideration is the exchange of goods or services and prevents contract avoidability." This is central to contract law because it ensures there is a mutual exchange of value, making the contract binding.
In the context of contracts, what is consideration and why is it essential for a contract to be enforceable? Please choose one of the following answers provided only; consideration is the price paid for a contract and it ensures fairness in the deal, consideration is the mutual agreement between parties and validates. The contract, consideration is the commitment made by parties and insures mutuality of obligation, consideration is the exchange of goods or services and prevent contract voidability?
The correct answer is: "Consideration is the exchange of goods or services and prevents contract voidability." It ensures there's mutual obligation, making the contract enforceable.
Are you sure?
Yes, I'm sure. Consideration in a contract, which means an exchange of value, is integral for a contract's enforceability. It prevents the contract from being voidable and ensures a mutual obligation.
What is the crucial factor and determining the enforceability of a contract where one party promises to do what they are already legally obligated to do? Please choose one of the following answers provided only; the adequacy of consideration, whether the contract involves nominal consideration, the mutuality of obligation, whether the obligated party is required to do anything new under the contract?
The correct answer is: "Whether the obligated party is required to do anything new under the contract." This is because a contract cannot be enforced if it only involves the performance of a duty already legally owed.
Are you sure?
Yes, I'm sure. In contract law, if a party is merely promising to do what they're already legally obligated to do, it does not count as valid consideration for a new contract. This is a widely accepted principle across different jurisdictions.
in the context of contracts what is the purpose of nominal consideration and when is it likely to make options and guarantees binding? Please choose one of the following answers provided only; nominal consideration is intended to increase the enforce ability of contracts, nominal consideration, makes options and guarantees binding when they are not in writing, no consideration, is meant to ensure fairness and commercial transactions, or nominal consideration, makes options and guarantees binding if certain conditions are met?
The correct answer is: "Nominal consideration is intended to increase the enforceability of contracts." Nominal consideration, while not of substantial economic value, often serves as an evidence of the parties' intention to create a legally binding agreement.
Are you sure?
Yes, I'm sure. Nominal consideration, which might be a small amount of money or a symbolic item, is often used to signify a party's intention to enter into a contract, thereby enhancing its enforceability.
in a requirement contract. What obligation does the buyer have and how does it defer from the common law perspective? Please choose one of the following answers provided only; the buyer must by all they need, and it is now considered enforceable under the UCC, the buyer is not obligated to buy anything, as it remains and illusory promise, the buyer can decide the quantity at any time without restrictions, the buyer must buy all they need, but it is still considered a illusory?
The correct answer is: "The buyer must buy all they need, and it is now considered enforceable under the UCC." Under common law, this type of contract was often deemed unenforceable due to lack of specific quantity. However, the UCC allows for such contracts as long as they are in good faith.
Are you sure?
Yes, I'm sure. Under the Uniform Commercial Code (UCC), requirement contracts, where the buyer agrees to buy all they need from a specific seller, are considered enforceable. This is a shift from common law that often deemed such contracts unenforceable due to lack of specificity in quantity.
What conditions does the U.C.C.establish for the enforceability of output and requirement contracts? Please choose only one of the following answers provided only; *. good faith, reasonable, proportionality, implied promise of remaining in business, *. unrestricted, quantity, determination, fair, dealing, and legal compliance, *. Mutuality of obligation, quantity estimates and written agreements, *. unreasonably, disproportionate, terms, illusory promises, and business stability
The correct answer is: "Good faith, reasonable proportionality, implied promise of remaining in business". The UCC establishes these conditions to ensure fairness and prevent abuse in output and requirement contracts.
Are you sure?
Yes, I'm sure. The Uniform Commercial Code (UCC) provides that output and requirement contracts are enforceable if they are made in good faith, with reasonable proportionality, and there is an implied promise of remaining in business.
in which situation is the legal duty rule, applicable, even if the promised act is not legally required in a contractual setting? Please choose one of the following answers provided only; when the prom, sir has a valid defense for not fulfilling the original contract, when the pre-existing contractual duty is owed to someone other than the prom, when the prom or act is not within the scope of the official duties, or when the prom has a contractual duty to perform and promises more money for the same performance?
The correct answer is: "When the pre-existing contractual duty is owed to someone other than the promisor." The legal duty rule applies in this situation because the promisor's duty is not an existing duty under the contract with the promisee.
Are you sure?
Yes, I'm sure. The Legal Duty Rule is applicable when the pre-existing contractual duty is owed to someone other than the promisor. The rule prevents a party from promising to do something they are already legally obligated to do, and then using that promise as valid consideration for a new promise.
What is a valid exception to the legal duty rule when modifying a contract for the sale of goods under the U.C.C.? Please choose one of the following answers provided only; *. Fair, and equitable modification in light of anticipated circumstances, *. Promise involves performance, *. The contract has been fully performed, *. Economic duress is present during the modification?
The correct answer is: "Fair, and equitable modification in light of anticipated circumstances". Under the UCC, this is a recognized exception to the legal duty rule when modifying a contract for the sale of goods.
Are you sure?
Yes, I'm sure. Under the UCC, a valid exception to the legal duty rule when modifying a contract for the sale of goods is that the modification is "fair and equitable in light of circumstances not anticipated".
What is the significant of the U.C.C.*–* provision in the context of a full payment check? Please choose one of the following answers provided only; it defines the criteria for an honest dispute, it establishes a grace period for a debt repayment, it expand on the common law regarding the discharge of a claim, it limits the use of full payment payment checks to certain industries?
The correct answer is: "It expands on the common law regarding the discharge of a claim." U.C.C. *-* provides a method for the discharge of a claim through the use of a "full payment" check.
Are you sure?
Yes, I'm sure. Under U.C.C. *-*, if a check is marked as "payment in full" and the check is cashed, it can discharge a claim for an obligation. This provision expands on common law regarding the discharge of a claim.
What distinguishes the second exception to the legal duty rule where there is an honest dispute about the debtors obligation from the third exception involving an honest dispute about the amount owed? Please choose. One of the following answers provided only; the second exception requires a written agreement, the second exception relates to the nature of the debtors obligation, the exception applies to the disputed claims over *,*, the third exception is not applicable in cases of personal loans?
The correct answer is: "The second exception relates to the nature of the debtor's obligation." This exception pertains to disputes about what exactly the debtor is obligated to do, while the third exception concerns disputes about the amount owed.
Are you sure?
Yes, I am sure. The second exception to the legal duty rule in the context of an honest dispute pertains to the nature of the debtor's obligation. This differentiates it from the third exception, which concerns disputes about the amount owed.