REG Study Group Q4 2014 - Page 115

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  • November 12, 2014 at 4:31 am #630885
    Mamabear
    Member

    Oops. yes I guess they qualify too, but the flashcard is for simple verses complex. Sorry!

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    November 12, 2014 at 4:32 am #630886
    Tax lady
    Participant

    Ohhhh ok. The simple trust does not allow accumulation of income, no char. contribution, etc (I can hear Jeff saying no, no, no from the audio) and the complex allows accumulations and contributions and dist of corpus is ok.

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    November 12, 2014 at 4:34 am #630887
    Mamabear
    Member

    Fabulous!

    The only other thing is the exemption of $300 for simple and $100 for complex.

    Whoo hoo!

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    November 12, 2014 at 4:34 am #630888
    Tax lady
    Participant

    Yes! Forgot to mention that. :0

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    November 12, 2014 at 4:35 am #630889
    Mamabear
    Member

    Do you have another area you want me to go over? The remaining cards for estates are the formulas. Ick.

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    November 12, 2014 at 4:36 am #630890
    Mamabear
    Member

    Partnerships? professional responsibilities? Law?

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    November 12, 2014 at 4:37 am #630891
    Mamabear
    Member

    I remember the no, no, no from the audio too! Something about babies are simple and say no no no to everything. 🙂

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    November 12, 2014 at 4:37 am #630892
    Tax lady
    Participant

    Maybe some law would be great. I feel good on p-ships and prof. responsibilities. As long as you are ok? (not tired, hand cramping, etc?)

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    November 12, 2014 at 4:39 am #630893
    Mamabear
    Member

    I know you posted, but I can't see it. Gggrrr.

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    November 12, 2014 at 4:40 am #630894
    Tax lady
    Participant

    I can't find you again…

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    November 12, 2014 at 4:40 am #630895
    Tax lady
    Participant

    There you are!

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    November 12, 2014 at 4:41 am #630896
    Mamabear
    Member

    Ok. It's back. It clearly doesn't like our quizzing. Which area of law do you want? Agency, Contracts, etc.

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    November 12, 2014 at 4:41 am #630897
    Tax lady
    Participant

    I know you said you were struggling with contract (as am I) so that's good with me if you are good with it…

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    November 12, 2014 at 4:43 am #630898
    Mamabear
    Member

    Absolutely! This is a nice break from all those MCQs.

    3 contract types.

    ____ is a contract formed by words–written or oral.

    ____ is as agreement in which the parties' assent is inferred from their conduct

    ____ is not a contract, but rather is a remedy to prevent unjust enrichment.

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    November 12, 2014 at 4:44 am #630899
    Tax lady
    Participant

    Express

    Implied in fact

    Not sure

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