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Comm315 Patrimony: The Totality of Your Assets and Your Liability.

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Comm 315 Notes to Transfer

Wednesday October 10th 

  Definitions:

Patrimony: the totality of your assets and your liability.

                                        [pic 1][pic 2]

Person: 2 categories

Physical person: what’s important is to define when someone is considered a person. (is a fetus a person: no). when you become a person you have patrimony. To be a person you need to be: Born, Alive and Able to sustain life: under normal care that the baby would be able to survive. Lets say a baby is malformed, if theyre not able to breath properly, they are not able to sustain life, therefore legally they do not meet the definition of a person. Why and when does this matter?

Example: Young business woman, whos married, with two kids. (k1, k2) Shes out of school has student debt, hasn’t accumulated a lot of wealth yet. Want to help them out if something happens to you but don’t have anything to pass on yet, you buy life insurance. Gets 3m in life insurance to pay to the kids should she die. She gets a divorce. Meets a new nice guy. She gets pregnant with child three but don’t get married. In February bad road conditions gets into a bad accident, she dies. Medics try to save the baby, 26weeks, baby is born alive, baby dies a few days later. What happens to the life insurance payout? Is kid #3 a person? If the baby was going to survive but a bacteria in the hospital that baby was a person and the k1, k2 and father of k3 each get 1m. If it is determined that that baby did not survive because of another reason (not being able to breath, not being able to sustain life). Then k1, k2 get 1.5M and father of k3 gets nothing.

Legal Person: a person that is created by the law. A corporation creates a legal person

2 processes

  1. By public law:this is a law that will give you the process to follow to create a legal person. Anyone who wants to create a legal person can follow that process. Ex: create 123 quebec inc and 124 quebec inc, same process. Quebec corp different process. Canada inc, Canadas process
  2. By private law: when a law creates one specific legal person. Ex. Hudsons Bay Company. A lot of people wanted to start legal persons. Therefore, the government created a process so that people can do it on their own (public law). Therefore, the legal people created by private law are older. Ex: Concordia created in 1948. Only when the government wants a very specific legal person. But there are the old legal persons.

Now most are by public law. Usually things start as private law but when too many people want to use it the government cannot handle every individual case it becomes public law.

Ex: getting divorced, you go to court and you ask a judge to dissolve your marriage. The divorce act: public law (anybody can do it )

Divorce act: 1960

We are in 1952, marriage isn’t working, what do you do?

If you want to have a private law regarding divorce you go to see your member of parliament. They would pass a law that would divorce a specific individual marriage. Parliament cannot responsible for dividing things up between an ex husband and wife.

The divorce act is public and therefore applies to every marriage.

The divorce act was adopted by: parliament

All of them Person.

Legal person (public and private law)

Will have a Patrimony.

If you need to prove something, the burden is on you. (civil law)

Balance of probability, you have to prove that

Presume: if the water is 100 degrees the water is presumed to be boiling. If I prove a (that the water is 100 degrees) I don’t have to prove B (that the water is boiling) when something is presumed the other side can challenge, example certain minerals change the temperature. (shift the burden of truth to the other side)

Deem: Water is deemed to boil at 100 degrees then we don’t have to prove that B water is boiling if its 100 degrees or higher. And this cannot be challenge.

Solidarity: when there is an obligation toward a group of people. Example: 3 people doing a project and they need funds. So you go see someone who has a lot of money and is a nice person. She gives you a loan 3000 10%, you give her 3300 after 6 months. She takes you to court since you didn’t pay and she wins, you have to collect. How? Theres three people, is it one person or divided by three. Solidarity clause: does not change the amount of money that each one of them owe 1100. It means they must cover for each other. She gets all 3300 from one person. Because of this clause he has to cover, just because he is the first one on her radar. This is unfair, he should be reimbursed, therefore he automatically gains the right to collect the 2200 from the other two. When a right is transferred automatically this is called SUBROGATION.

Jointly: means they all owe her 1100.

Example 2 subrogation: you and your neighbor hate each other, theres a fire in your house damages equal 100000. You are sus of your neighbour that you hate. After everyone is safe, what will you do, first call is insurance. They compensate you. What would you do if you didn’t have insurance. Sue sketchy neighbour. After you’ve made your claim, and the insurance company pays, then they automatically acquire the right to sue the neighbour because of Subrogation.

Conc. The insurance pay you, they’ve acquired your right to sue your neighbour.

 

Contracts chapter 4

Missed classification (offer and acceptance)

Classifications: if youre going to buy a gym membership for 6 mo for 50$/month, classify the contract:

Successive

Adhesion

Bilateral

Commutitive

Honorous

5$/visit=aliatery

Offer and Acceptance

Whats important: the difference between delay and no delay, when you can revoke your offer, how long do you have to respond, the offer itself, the essential elements, when you accept but don’t accept all essential elements you can have a counter offer.

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