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Business Law and Property Rights: Quiz Review on Real Property, Partnerships, and Intellectual Property

Quiz review covering legal principles related to property ownership and partnerships.

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    Business Law and Property Rights: Quiz Review on Real Property, Partnerships, and Intellectual Property 1. Question : Kevin and Emily own a house as joint tenants. If Kevin dies, Emily will own Student Answer: an undivided 50% interest in the house jointly with Kevin’s heirs. a divided 50% interest in the house jointly with Kevin’s heirs. the house, but only if she applies for partition and can pay Kevin’s heirs their share. the house. Instructor Explanation: The answer can be found in Section 11.3 Real Property, Possessory Interests in Land, in the text. Points Received: 1 of 1 Comments: 2. Question : The power of the government to regulate what use real property may be used for is known as Student Answer: adverse possession. eminent domain. zoning. community impact restriction. Instructor Explanation: The answer can be found in Section 11.3 Real Property: Regulations and Real Property, in the text. Points Received: 1 of 1 Comments: 3. Question : Which of the following is a partnership? Student Answer: Jennifer and Brad each put in $20,000 to buy a high interest Certificate of Deposit, intending to cash it at maturity and split the money equally. Allen, Bianca, and Caroline jointly run an organization offering free advice to LGBT teenagers. Peyton and Eli, who invest $50,000 and $75,000 respectively, buy a bookstore and run it together. All of these are partnerships. Instructor Explanation: The answer can be found in Section 13.1 Partnerships, in the text. Points Received: 1 of 1 Comments: 4. Question : If you find a diamond bracelet on the public sidewalk, you are most likely to be able to keep the bracelet if it is

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