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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 Property1.Question :Kevin and Emily own a house as joint tenants. If Kevin dies, Emilywill ownStudent Answer:an undivided 50% interest in the house jointly with Kevin’sheirs.a divided 50% interest in the house jointly with Kevin’s heirs.the house, but only if she applies for partition and can payKevin’s heirs their share.the house.InstructorExplanation:The answer can be found in Section 11.3 Real Property, PossessoryInterests in Land, in the text.Points Received:1 of 1Comments:2.Question :The power of the government to regulate what use real propertymay be used for is known asStudentAnswer:adverse possession.eminent domain.zoning.community impact restriction.InstructorExplanation:The answer can be found in Section 11.3 Real Property: Regulations and RealProperty, in the text.Points Received:1 of 1Comments:3.Question :Which of the following is a partnership?Student Answer:Jennifer and Brad each put in $20,000 to buy a high interestCertificate of Deposit, intending to cash it at maturity and split themoney equally.Allen, Bianca, and Caroline jointly run an organization offeringfree 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.InstructorExplanation:The answer can be found in Section 13.1 Partnerships, in the text.Points Received:1 of 1Comments:4.Question :If you find a diamond bracelet on the public sidewalk, you are mostlikely to be able to keep the bracelet if it is

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