BusinessTest2 - 1. A fee simple for real estate is...

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1. A fee simple for real estate is characterized as a person who holds a set of rights, the owner of property in fee simple is authorized to use, possess, and dispose of the property as they chooses during their lifetime. After owner dying the owner’s interest in the property descends to their heirs. 2. A relationship between liability for damages arising under contract warranties, under tort product liability and under tort strict liability is very simple they are all held liable for the damages. 3. The differences between torts and contract is that a tort is when one party’s wrongful conduct causes injuries to other while a contract is simply an agreement between 2 or more parties who agree to perform an act now or in the future. The similarities in cases for torts and contracts are that they both have to compensate those who have suffered for their wrongful acts. 4. The differences in handling and outcome between a case arising from a physical injury to a person if pursued in tort and if pursued as a crime, the difference is that when it is a perused in tort the person who have suffered injuries get a compensated while if it was a crime the person who did the wrong doing would get fine and/or imprisonment or even death. 5. Facts: Palsgraf was waiting for a train on a platform. A man across the
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This note was uploaded on 10/08/2010 for the course MAT 109 taught by Professor Michael during the Spring '10 term at Peirce.

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BusinessTest2 - 1. A fee simple for real estate is...

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