IRAC

When writing the law exam essay, use the IRAC method

Issue: Statement of the issue or question at hand.
Rule: The statement of the rules pertinent in deciding the issue stated. Rules in a common law jurisdiction derive from court case precedent and statute. The information included in the rules section depends heavily on the specificity of the question at hand. If the question states a specific jurisdiction then it is proper to include rules
Application, Analysis, or Arguments: Analyze the fact and apply the rule to the fact.
Conclusion:

How to IRAC on Examinations
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IRAC Exercise Guidelines (PDF)
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Under-Here-Therefore
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Remedies

Cases to read and brief:

1. J'aire Corp. v. Gregory (1979) 24 Cal.3d 799, 598 P.2d 60 (Modern Law of Damages)
2. Munn v. Algee (1991) 924 F.2d 568 (Limitations on Recovery)
3. Tuttle v. Raymond, III (1985) 494 A.2d 1353 (Punitive Damages)
4. People v. Lim (1941) 18 Cal.2d 872, 118 P.2d 472 (Introduction to Equitable Remedies)
5. Orndorff v. Christiana Community Builders (1990) 217 Cal.App.3d 683, 266 CR.193 (Injuries to Tangible Property)
6. Texaco, Inc. v. Pennzoil, Co. (1987) 729 S.W.2d 768 (Interference w/a Contractual Relationship)
7. Birnbaum v. United States (1977) 436 F.Supp. 967 (Invasion of Property)
8. Susan M. v. New York Law School (1990) 76 N.Y.2d 241, 557 N.Y.S.2d 297(Injuries to Personal Dignity or Status)
9. Brown v. Yacht Club of Coeur D'Alene, Ltd. (1986) 111 Idaho 195, 722 P.2d 1062
   (Remedies for Breach of Contract- Restitution)
10. Foley v. Interactive Data Corp. (1988) 47 Cal.3d 654, 765 P.2d 373(Remedies for Breach of Contract)

Real Property

Case to read and brief:

1. Pierson v. Post (1805) 3 Cal.R 175 (N.Y.Sup.Ct.) (Wild Animals)
2. Hannah v. Peel (1945) 1 K.B. 509 (Unconscious Possession)
3. Mendonca v. Cities Service Oil Co. (1968) 354 Mass. 323, 237 N.E.2d 16 (Adverse Possession)
4. Meyers v. Meyers 99 N.J.Eq-560, 134 A-95 (1926) (Delivery to a Third Party)
5. In RE: Totten (1904) 179 N.Y. 112, 71 N.E. 748 (Retention of Rights by Donor)
6. Wooden-Ware Co. v. United States (1882) 106 U.S. 432, 1 S.Ct. 398 (Bona Fide Purchaser)
7. City Bank & Trust Co. v. Morrissey (1983) 454 N.E.2d 1195 (Future Interests)
8. Jee v. Audley (1787) 1 Cox 324 (Rule Against Perpetuities)
9. Franklin v. Brown (1889) 118 N.Y. 110, 23 N.E. 126 (Landlord Tenant)
10. Javins v. First National Realty Corp. (1970) 428 F.2d 1071 (Landlord Tenant)

Living Trusts

A trust is an arrangement under which one person, called a trustee, holds legal title to property for another person, called a beneficiary. You can be the trustee of your own living trust, keeping full control over all property held in trust.

A "living trust" (also called an "inter vivos" trust) is simply a trust you create while you're alive, rather than one that is created at your death.

There are three kind of living trusts: Revocable, testamentary and irrevocable.

California State Bar: Do I need a Living Trust?

Excerpt from FTC: Living Trust Offers: How to Make Sure They're Trust-worthy

Probate is a legal process that usually involves filing a deceased person's will with the local probate court, taking an inventory and getting appraisals of the deceased's property, paying all legal debts, and eventually distributing the remaining assets and property. This process can be costly and time-consuming. Many states have simplified probate for estates below a certain amount, but that amount varies among states. If an estate meets the state's requirements for "expedited" or "unsupervised" probate, the process is faster and less costly.

A trust is a legal arrangement where one person (the "grantor") gives control of his property to a trust, which is administered by a "trustee" for the "beneficiary's" benefit. The grantor, trustee and beneficiary may be the same person. The grantor names a successor trustee in the event of incapacitation or death, as well as successor beneficiaries.

A living trust, created while you're alive, lets you control the distribution of your estate. You transfer ownership of your property and your assets into the trust. You can serve as the trustee or you can select a person or an institution to be the trustee. If you're the trustee, you will have to name a successor trustee to distribute the assets at your death.

The advantage of a living trust? Properly drafted and executed, it can avoid probate because the trust owns the assets, not the deceased. Only property in the deceased's name must go through probate. The downside? Poorly drawn or unfunded trusts can cost you money and endanger your best intentions.

A will is a legal document that dictates how to distribute your property after your death. If you don't have a will, you die intestate, and the law of your state determines what happens to your estate and your minor children. The probate court governs this process.

A living trust is different from a living will. A living will expresses your wishes about being kept alive if you're terminally ill or seriously injured.

Tax Prophet: Use of Revocable and Irrevocable Trusts

Estate Planning Attorney Tom Martin's Law Blog: What is a Totten Trust?