Mie 305 exam 3 - Study guides, Class notes & Summaries

MIE 305 Exam 3

CHAPTER 10 Bundle of Rights sticks metaphor owner = entire bundle of sticks renter = only a few sticks possession, use, control, exclusion, transfer Brainpower Read More Property Rights the legal rights that a person has over a piece of real property Real Property The legal interests in land and things attached to or growing on land ex: part of the earth’s surface, buildings, fences, and trees used to describe the legal rights that a person can have in real...

Real Property - The legal interests in land and things attached to, or growing on land. Personal Property - Referred to generally as chattel, the rights, powers, and privileges a person has in things that are not real property, may be transferred by sale, gift, or will. Chattels Real - An interest in land, such as a leasehold. Chattels Personal - Moveable personal property. Chattel Personal in Action - Something to which one has a right to possession, but concerning which one which m...

MIE 305 Exam 2 Questions And Answers What are the Articles of Confederation? - answerthe original constitution of the US, ratified in 1781 (replaced by the US Constitution in 1789) What were the weaknesses of the Articles of Confederation? - answer1) Confederate congress was the only national branch of government and it served a limited function as coordinator between the states 2) States were the all powerful sovereigns within their own borders 3) No federal executive 4) No federal judi...

MIE 305 Exam 3 – Book Questions and Answers

MIE 305 Exam 3 – Lectures Questions and Answers

MIE 305 Exam 3 – Lectures Questions and Answers

What is the importance of a Business Law course in a business/management curriculum, and/or the importance of knowing something about it to a businessperson? - The law is important to modern business. The history of business reveals the prominence of law. Educators today emphasize the role of law in preparing tomorrow's business leaders. How can business people use the law to a strategic advantage? - Knowing legal rights and duties enhances one's ability to identify legal risks and effect...

MIE 305 Exam 3 – Book Questions and Answers

MIE 305 Exam 3 Questions with correct Answers