MODULE 1 Short Essay Test - Business Law.docx - MODULE 1...

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MODULE 1 – SHORT ESSAY TEST 1. 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?
2. 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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