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
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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.

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