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Fraudulent misrepresentation, generally, refers to a misrepresentation that....

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What summons is used when multiple parties own an undivided piece of land and wish to split it?

Tutu Corp. acquired land in a Section 351 tax-free exchange in 2013. At that time, the land had a basis of $200,000 and a fair market value of $180,000. Tutu Corp. has two equal shareholders, Joan and Ashley, who are unrelated to each other. In 2016, Tutu Corp. adopts a plan of liquidation. During that year and pursuant to the liquidation, the corporation distributes the land to Joan when the value of the land is $150,000 and distributes cash of $150,000 to Ashley. What amount of gain or loss does Tutu Corp. recognize on the distribution of the land?a)$30,000 lossb)$50,000 lossc)$20,000 lossd)No recognized gain or loss

Although SCOTUS has held that an out-of-state citizen's deliberate sale of a single item in another state may give rise to PJ, State B's highest court has held that such a sale is not sufficient for purposes of State B's long-arm statute.Novelist from State C sold an expensive machine to a mathematician from State B.After sale, mathematician sued novelist in federal district court in State B, alleging novelist's breach of contract and seeking $125,000 in damages. Novelist's only contact w/ State B is the sale of that machine.May federal district court in State B hear case?A No, because venue is improper, even though court has personal jurisdiction over the novelist.B No, because the court does not have personal jurisdiction over the novelist.C Yes, because the court has personal jurisdiction over the novelist and venue is proper.D Yes. because the court has subiect-matter jurisdiction over the lawsuit.

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