final_05 - Business Law I AEM 320; NBA 560 December 2005...

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Business Law I Name AEM 320; NBA 560 December 2005 Final Exam — December 14 Before beginning, write your name on this sheet and the question sheets in the spaces provided . Please answer all of the questions in the space and extra pages provided after each question. Be sure your exam contains all 11 pages. You have two hours to complete the exam. The maximum amount of time that should be spent on each questions is noted before the question. Please read the following instructions CAREFULLY: Please read the questions carefully and organize your answer before you write. Please write clearly. WHAT WE CANNOT READ WE CANNOT GRADE . The entire test is open book - you may use any materials you wish EXCEPT TAKENOTE in its original form. NO MATERIALS MAY BE SHARED. Note however that you should NOT quote either TakeNote, the text or any course materials verbatim at great length. You will not be rewarded for copying. Your reasoning in answering each question is what counts not the conclusion that you reach or the fact that you have a complete set of reference materials. ACADEMIC INTEGRITY STATEMENT By signing below, I acknowledge that it is a violation of the Code of Academic Integrity to either give or receive unauthorized assistance during this examination. Even though this is an open-book examination, it is a violation of the Code to share material or information with another student during the examination. I further acknowledge that if I am found guilty of violating the Code as a result of my conduct during this exam, the proper penalty for such violation is to receive a grade of F in the course. Signature
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Business Law I Name (25 points - 30 minutes) 1. Major owned a large undeveloped parcel of land on the south end of Saranac Lake in the Adirondack Mountains in northern New York. In 1980, he subdivided the property. He built himself a home on a parcel close to the state road that circles the lake and sold five lakefront parcels to Andrew, Brian, Casey, Dave and Eric. The deed to each lakefront parcel contains an easement to allow access to the property across the parcel that Major kept. The description of the easement in each deed coincides with an existing gravel road. Over the years, use of the five lakefront properties has changed.
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This test prep was uploaded on 09/24/2007 for the course AEM 3200 taught by Professor Grossman,d. during the Fall '07 term at Cornell.

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final_05 - Business Law I AEM 320; NBA 560 December 2005...

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