Discuss the legal ramifications of the division

Assignment Help Other Subject
Reference no: EM13156089

Violet and Max Harris had been living together in New Mexico since 1997. They purchased a condo together as joint tenants in April 1999. Max made the downpayment from his savings. The mortgage payments were made from commingled funds before and after the marriage. Violet and Max married July 2001. In July 2007, they separated.

In August 2002, Violet founded BioTech Corporation, a biotechnology firm, with $30,000 that she received as an inheritance from her grandmother. She worked full time for BioTech and owned all of the company's stock. Max continued with his job with another employer and was not involved in BioTech's operations. Due to limited financial resources, Violet did not draw a salary from BioTech until August 2007.

In September 2007, BioTech's first product was approved by the Food and Drug Administration. Shortly thereafter, Violet sold all of her BioTech stock to a large pharmaceutical firm for $30 million. Two days later, Violet filed for dissolution of marriage.

Discuss the legal ramifications of the division of condo, BioTech and other assets. Would it make any difference if Violet sold the property after filing for the dissolution of marriage?

Reference no: EM13156089

Questions Cloud

What is nash equilibrium price and quantity for each firm : If firm A expects firm B to set its price at $20, what is firm A's best response? If firm B predicts that firm A will price good A at $36, what is firm B's best response? What is the NASH EQUILIBRIUM price and quantity for each firm?
What factors are important in determining a research design : What factors are most important in determining a research design? The response should be relevant to particular area of interest.
Gas phase reaction is second order : The following gas phase reaction is second order. 2C2H4(g)--->C4H8(g) Its half life is 1.51 min when [C2H4] is 0.250 M. a.What is k for the reaction?
What is the new volume of the balloon : A weather balloon has a volume of 750 L when filled with helium at 8 oC at a pressure of 380 torr. What is the new volume of the balloon when the pressure is 0.20 atm and the temperature is -45 oC?
Discuss the legal ramifications of the division : Discuss the legal ramifications of the division of condo, BioTech and other assets. Would it make any difference if Violet sold the property after filing for the dissolution of marriage?
What is the best option and how much difference will it make : A company will borrow $50,000 for new equipment and will repay the loan in 5 years. What is the best option and how much difference will it make in the final payoff amount?
Write the complete ionic equation for each reaction : Write the complete ionic equation for each reaction that produced a precipitate? Write the net ionic equation for each reaction that produced a precipitate?
How many moles of iron would form : 6Na+Fe2O3->3Na2O+ 2Fe. If you are provided 20.0 moles of sodium & excess iron (III) oxide, how many moles of iron would form?
Use rejection points to test the hypothesis : Use rejection points and previously given sample information to test the hypothesis you set up in part a by setting alpha equal to 010, .05, .01, and .001.

Reviews

Write a Review

Other Subject Questions & Answers

  Cross-cultural opportunities and conflicts in canada

Short Paper on Cross-cultural Opportunities and Conflicts in Canada.

  Sociology theory questions

Sociology are very fundamental in nature. Role strain and role constraint speak about the duties and responsibilities of the roles of people in society or in a group. A short theory about Darwin and Moths is also answered.

  A book review on unfaithful angels

This review will help the reader understand the social work profession through different concepts giving the glimpse of why the social work profession might have drifted away from its original purpose of serving the poor.

  Disorder paper: schizophrenia

Schizophrenia does not really have just one single cause. It is a possibility that this disorder could be inherited but not all doctors are sure.

  Individual assignment: two models handout and rubric

Individual Assignment : Two Models Handout and Rubric,    This paper will allow you to understand and evaluate two vastly different organizational models and to effectively communicate their differences.

  Developing strategic intent for toyota

The following report includes the description about the organization, its strategies, industry analysis in which it operates and its position in the industry.

  Gasoline powered passenger vehicles

In this study, we examine how gasoline price volatility and income of the consumers impacts consumer's demand for gasoline.

  An aspect of poverty in canada

Economics thesis undergrad 4th year paper to write. it should be about 22 pages in length, literature review, economic analysis and then data or cost benefit analysis.

  Ngn customer satisfaction qos indicator for 3g services

The paper aims to highlight the global trends in countries and regions where 3G has already been introduced and propose an implementation plan to the telecom operators of developing countries.

  Prepare a power point presentation

Prepare the power point presentation for the case: Santa Fe Independent School District

  Information literacy is important in this environment

Information literacy is critically important in this contemporary environment

  Associative property of multiplication

Write a definition for associative property of multiplication.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd