Business Law questions. 3-4 pages.

May 13th, 2015
Studypool Tutor
Price: $20 USD

Tutor description

1. How is real property different from personal property? Give several examples of each. 2. Find a prenuptial agreement online. What provisions are included in your example? Is it important to have a prenuptial in today’s society? Why and who may want to gain one prior to marriage? 3 What does it mean when a party to a contract assigns their rights? Who is the assignor? Who is the assignee? Who is the obligor? Why would someone want to assign their contractual rights over to another person? 4. Mr. Long executed the following legal document: "In consideration for goods sold to me on account by George Northman, I hereby transfer to George Northman all claims I may have against H. Hall arising from his debt of $1,500 to me." (Signed) Thomas Long, March 21, 2004 Who is the assignor? Who is the assignee? Why is Mr. Northman a party to this document? Why is H. Hall a party to this document? 5. Thompson, the owner of a successful floral shop, orally promised Franks, an experienced flor

Word Count: 1016
Showing Page: 1/6
MOD 4 HMWP2Difference between Real Property and Personal PropertyThere is difference between two terms personal property and real property. Anything which is bought by us, or inherited to us is called our property. That property can be in the shape of real property as well as personal property. Any immovable property is real property and finest example of real property is land that cannot be moved. Building is also real property. Any property which is annexed with real property is also real property like plants which are annexed with land or building. On the other hand, personal property is very different from real property. There can be two types of personal property; in first type all the tangible unreal properties like a furniture, shoes, clothes, fan, bag, guitar, socks, and stuff like that. In other type, all intangible assets are included. Intangible assets are assets that cannot be seen or touched but have some worth which include patents, copyrights, royalty, goodwill, and license. Personal property can be converted into real property, if we take a simple example of wood, which is personal property and if we convert that wood into well-furnished furniture and annex that furniture to some land in such a way that it cannot be moved, and then it becomes real property. Real property as well as personal property both has worth for some individual and are same for individual as worth matters, but in legal terms there is a lot of difference indeed. [Alan R

Review from student

Studypool Student
" <3 it, thanks for saving me time. "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1830 tutors are online

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors