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FEBRUARY 2009 BUSINESS LAW CHAPTER 21 DEBRA BARONE ANSWERS TO QUESTIONS AND CASE PROBLEMS 1. Yes, the creditor is a creditor of the both married parties, has the right to obtain an execution. 2. Marlene has no rights for as she discarded the dishes at the dump. Joe took property that had been abandoned. 3. The question is whether the $5,000 was a gift or a loan that Carl had to repay. The money was initially a loan without the intent. But, Joyce’s written message in the card qualified it as a gift, creating inter vivos gift. 4. No, Roy only owns half. Stella still owns the other half and upon her death, it would go to her beneficiaries. 5. No, she is not correct. Under common law, the finder of lost property acquires possession of the property, but does not become its owner. I feel that Mona did all she could and waited enough time to find the owner. However, the owner prevails over the claim of the finder under common law. 6.
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This note was uploaded on 04/22/2011 for the course FINANCE BUSINESS L taught by Professor Daviddubois during the Spring '09 term at SUNY Empire State.

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