SHORT ESSAY TEST 1 Business Law I GBA-231-OL02.docx -...

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Question 1 (6 points) Saved Set forth the distinctions between real property and personal property. What are the fundamental distinctions? Can real property become personal property and vice versa? What characterizes a fixture? How does tangible property differ from intangible?
Question 2 (6 points) What are the elements required to prove a legally binding gift of personal property? Must a binding gift require actual delivery? Can a donee disclaim a gift?

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