Questions and Answers of The Law Of Healthcare Administration

Stroll leases a warehouse for a term certain of five years. During the second year of the lease, the landlord, Vernon, mortgages the land. At the end of the fifth year of the lease, Stroll and Vernon
(a) What are three characteristics that make leaseback arrangements attractive to lessee businesses?(b) What are the characteristics that make them attractive to lessor financial institutions?
Describe briefly the reasons for treating residential tenancies differently from commercial tenancies.
Describe the contractual aspects of a mortgage.
How does a mortgagee’s interest in land under the land titles system differ from the type of interest a mortgagee receives under a registry system?
Describe the two harshest of the common law rules for mortgagors. How did equity remedy this?
Why does a mortgagee rarely take possession immediately on default by the mortgagor?
Define foreclosure, acceleration clause, redemption, charge , and power of sale .
In a sale of mortgaged land by the court, what are the consequences for the mortgagor if there is a deficiency? If there is a surplus?
When a purchaser acquires land from the mortgagor and defaults, whom may the mortgagee sue? Why? Are there any exceptions to this rule?
What are the main options open to a second mortgagee when the mortgagor defaults?
In addition to timely repayment of the loan, what other duties does a mortgagor assume?
M, a mortgagee, wishes to sell you a $20 000 mortgage on Blackacre. M states that Q, the mortgagor, is already in default, but M needs money quickly to proceed with another transaction. M offers to
Distinguish between a general creditor and a secured creditor.
Greenacre, a five-hectare field in a new subdivision, is available for sale. You would like to divide it into 20 lots, develop eight of them yourself, and eventually sell off the remaining 12
Why would a mortgagor who has defaulted request the court to hold a sale of his property rather than allow the mortgagee to foreclose?
What is the appeal of a reverse mortgage on their home to a retired elderly couple?
In our “typical real estate transaction,” explain why Vincent would agree to take back a second mortgage.
How does title insurance change the tasks that the purchaser’s lawyer must complete?Discuss the consequences of title insurance.
To what laws are sole proprietorships subject?
Is it necessary to have a written agreement in order to create a partnership?
What are the advantages and disadvantages of partnerships as opposed to sole proprietorships?
What are the basic elements of the partnership relationship?
What is the difference between sharing profits and sharing gross receipts?
In what circumstances may a person receive a share of the profits of a partnership business without herself being a partner?
Why is it important to distinguish between partnership property and the personal property of the individual partners?
When is it necessary for a partnership to be registered?
What does it mean to say “every partner is an agent of the firm”?
What is meant by “apparent authority”?
What is “joint liability”?
What steps should a partner take to protect herself against ongoing liability when she retires?
Can a partner receive a “salary” from the firm? What is the real nature of a partner’s salary?
What are the three principal fiduciary duties imposed on partners?
How is partnership property distributed on the dissolution of a partnership?
Is there any difference between a partnership and a joint venture?
What are the principal forms that a joint venture may take?
What are the principal advantages and disadvantages of being a limited partner?
In what ways is the liability of a partner in an LLP limited?
What was the motivation for the creation of income trusts?
What is meant by a “legal person”?
What is meant by “limited liability”? Whose liability is limited?
What are the main differences between partnerships and corporations?
What were the principal arguments made by the creditors in the Salomon case in attempting to make Salomon personally liable?
In what ways may two or more corporations be said to be “associated”?
What is meant by “lifting the corporate veil”?
How does the articles of incorporation system of forming a corporation differ from (a) the letters patent system and (b) the memorandum and articles system?
What information must be set out in articles of incorporation?
Why must care be taken in selecting a corporate name? What is a “number name”?
What is the main function of a corporation’s bylaws?
What are the principal characteristics of closely held corporations?
What are the main advantages of forming a professional corporation?
What is the function of a corporation’s stated capital account?
What special rights are normally carried by preferred shares?
What are the usual rights of bondholders?
What factors influence an investor’s choice between shares and bonds?
In what sequence should a corporation’s assets be distributed on liquidation of the corporation?
In what circumstances are restrictions on the transfer of shares binding on purchasers of the shares?
What is the distinction between the business and the affairs of a corporation?
Where are the rules of corporate governance found?
What are the principal powers given to the board of directors of a corporation incorporated under the CBCA?
How are directors appointed? How may they be removed?
To whom are directors’ and officers’ duties owed?
What defences are available to a director accused of breach of duty?
When a director enters into a contract with his or her own corporation, what precautions should be taken to ensure the validity of the contract?
What is meant by intercepting a corporate opportunity?
In what circumstances might a director have a conflict of interest?
What is insider trading?
Who is an “insider”?
What is meant when one says that a minority shareholder is (a) “locked in” and (b) “frozen out”?
What are the principal rights attached to shares in a corporation?
What is the difference between an ordinary resolution and a special resolution?
What are class rights?
What is a proxy? How are proxies appointed?
Do shareholders have any right to receive a dividend if the corporation is profitable?
What are “preemptive rights” in relation to a corporation’s shares?
Are there any restrictions on the directors’ powers to issue new shares?
What information must be provided in a corporation’s annual financial statements?
What is the role of a corporation’s auditor? To whom is the auditor’s duty owed?
What are a corporation’s “documents of record”?
Do shareholders owe any duty to their corporation?
Explain the “appraisal remedy” and the “derivative action”?
What are the principal differences between the “just and equitable” winding-up procedure and the oppression remedy?
What matters are commonly dealt with in shareholder agreements? Why?
What is meant by the “indoor management rule”?
Is a person dealing with a corporation expected to know the contents of the corporation’s articles of incorporation or its bylaws?
Can a corporation adopt a pre-incorporation contract? What is the effect of its purporting to do so?
What are the possible legal consequences when a false statement is made in a prospectus?
Are there any restrictions on a corporation paying dividends to its shareholders?
Why are there restrictions against a corporation returning capital to its shareholders?
What are the principal objectives of securities legislation?
What liability is triggered by a false or misleading prospectus?
What is the difference between strict liability and absolute liability?
Can a corporation be convicted of a criminal offence? How?
Does the principle of limited liability protect a director from criminal liability in the course of performing her duties?
What standard of care and skill is expected of corporate directors in relation to environmental offences?
Who may perform an audit for a public corporation?
What is an injunction?
What are the arguments in favour of imposing a wide liability on professionals?
What is the main effect of increased use of liability insurance?
What is the nature of the fiduciary duty owed by a professional? In what way can that duty be wider than a contractual duty?

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