Shelton engines inc has built a new model of engines

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Question 27 of 40 2.5/ 2.5 PointsShelton Engines Inc. has built a new model of engines that can withstand more heat than the competing engines in its class. Lokin Inc., a sports car manufacturer, __________ the equipment from Shelton Engines Inc. for $1,000,000. Shelton Engines Inc. transfers title of the engine to Lokin Inc. Lokin Inc. is now the owner of the equipment. Produces Question 28 of 40 2.5/ 2.5 PointsWhich of the following is an example of intangible property? A . copyrights B. fixturesC. mineralsD. Automobiles Question 29 of 40 2.5/ 2.5 PointsWhich of the following is true of a life tenant? A. A life tenant has the right to sell a life estate at will.B. A life tenant is a person who gives a life estate to another.C. A life tenant can possess a life estate to the point of rendering it worthless by permanent damage. D. A life tenant is treated as the owner of the property for the duration of a life estate. Question 30 of 40 2.5/ 2.5 PointsWhat are fixtures? A. goods closely associated with a piece of real property B. intangible properties created inside the premises of a real propertyC. parts of a real property that are easily transferrable without substantial damage to the propertyD.
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goods that cannot be classified as personal property or real property
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  • Spring '15
  • NikkiChtaini

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