Question 1

Bay City condemns private, residential property and conveys it to Commercial Construction Corporation to develop a shopping, dining, and entertainment complex on the city's waterfront. According to the United States Supreme Court,​

Accepted Answer

A)   ​a state can prohibit taking for economic development.
B)   ​eminent domain may be used to further development.
C)   ​a state can permit taking for redevelopment of slum areas.
D)   ​all of the choices.E) A) and C)
F) C) and D)

Question 2

Kevin and Laura are married. Together, they buy a virtual asteroid near the virtual planet Magellan in the virtual NightSky universe. In the event of a divorce, to avoid property division issues with respect to the asteroid, this couple​

Accepted Answer

A)   ​can use a pre-nuptial agreement or an addenda to it.
B)   ​cannot split their interests in the asteroid or any virtual property.
C)   ​must surrender their rights in the asteroid to the creators of NightSky.
D)   ​must abandon their rights in the asteroid to other virtual property owners in the NightSky universe.E) None of the above
F) A) and B) A

Question 3

Money2Play Corporation does not make or sell products or services but buys a patent and asserts it against New Functions, Inc., a start-up applications company, demanding licensing fees and threatening an infringement suit. Because of these threats, New Functions is most likely to​

Accepted Answer

A)   ​have difficulty in attracting investors.
B)   ​target other firms with patent litigation to obtain investment capital.
C)   ​cease and desist.
D)   ​collect more capital to fund its operations than without the threats.E) None of the above
F) A) and B)

Question 4

Pay-to-Buy.com, Inc. obtains a patent on an online payment system. The patent is vaguely worded and overly broad. In evaluating the patent, a court is most likely to​

Accepted Answer

A)   ​have difficulty, resulting in Pay-to-Buy being targeted by patent trolls.
B)   ​apply the patent broadly.
C)   ​issue a vaguely worded protection order.
D)   ​hold that Pay-to-Buy's business practices are illegal.E) A) and B)
F) None of the above A

Question 5

Gwen starts Handy Crafts to advertise and sell ceramic pots, quilts, glass work, and so on. Later, Gwen marries Ivan, who creates and runs the firm's marketing. If Gwen and Ivan divorce, in most states the business will be considered​

Accepted Answer

A)   ​Gwen's separate property.
B)   ​Ivan's separate property.
C)   ​marital property.
D)   ​neither separate nor marital property.E) A) and D)
F) C) and D)

Question 6

According to the United States Supreme Court,​

Accepted Answer

A)   ​Metro City can take a parking lot for a privately owned sports stadium.
B)   ​all of the choices.
C)   ​Laborville can condemn a vacant field for a private manufacturing plant.
D)   ​Sleepyton can take residential property for a private corporate complex.E) B) and C)
F) A) and D)

Question 7

Bob owns a virtual asteroid near the virtual planet Cosmo in the virtual DeepSpace universe. Property consists of a bundle of rights in anything that has an ascertainable value and is subject to ownership. This definition encompasses​

Accepted Answer

A)   ​intangible objects used in virtual worlds like DeepSpace.
B)   ​digital books, music libraries, and movie downloads.
C)   ​all of the choices.
D)   ​domain names and expensively created Web sites.E) B) and D)
F) A) and C)

Question 8

Carrie starts Dance & Diet Nutrition, a weight-loss products enterprise, before marrying Edgar. To legitimat4ely protect Carrie's business assets from Edgar's claims if the spouses divorce, Carrie could use​

Accepted Answer

A)   ​a prenuptial agreement preceded by fully disclosing the business assets.
B)   ​a postnuptial agreement without fully disclosing the business assets.
C)   ​conceal the business assets.
D)   ​all of the choices.E) A) and B)
F) None of the above

Question 9

Liz starts Modern Roofing, which becomes successful through her efforts. Meanwhile, she marries Nick. To ensure that her business will not break up if her marriage falls apart, Liz should​

Accepted Answer

A)   ​avoid involving Nick in the business.
B)   ​employ Nick in the business in a minor capacity.
C)   ​appoint Nick to be the business's chief executive officer.
D)   ​hire Nick to work for the business on a per-project basisE) B) and C)
F) All of the above A

Question 10

Kim and Larry own Moe's, a successful restaurant. Kim, who is married, asks Larry, her unmarried partner, to convert Moe's to a limited liability company and agree that each has the right to buy the other's interest to keep control of the business. In terms of Kim's spouse and Larry's future spouse, this agreement is​

Accepted Answer

A)   ​illegal and unethical.
B)   ​illegal, but not unethical.
C)   ​legal, but unethical.
D)   ​legal and ethical.E) A) and D)
F) All of the above

Exam 36: Digital Update:the Exploding World of Digital Property

Bay City condemns private, residential property and conveys it to Commercial Construction Corporation to develop a shopping, dining, and entertainment complex on the city's waterfront. According to the United States Supreme Court,

Correct Answer
verified

Kevin and Laura are married. Together, they buy a virtual asteroid near the virtual planet Magellan in the virtual NightSky universe. In the event of a divorce, to avoid property division issues with respect to the asteroid, this couple

Correct Answer
verified
A

Money2Play Corporation does not make or sell products or services but buys a patent and asserts it against New Functions, Inc., a start-up applications company, demanding licensing fees and threatening an infringement suit. Because of these threats, New Functions is most likely to

Correct Answer
verified

Pay-to-Buy.com, Inc. obtains a patent on an online payment system. The patent is vaguely worded and overly broad. In evaluating the patent, a court is most likely to

Correct Answer
verified
A

Gwen starts Handy Crafts to advertise and sell ceramic pots, quilts, glass work, and so on. Later, Gwen marries Ivan, who creates and runs the firm's marketing. If Gwen and Ivan divorce, in most states the business will be considered

Correct Answer
verified

According to the United States Supreme Court,

Correct Answer
verified

Bob owns a virtual asteroid near the virtual planet Cosmo in the virtual DeepSpace universe. Property consists of a bundle of rights in anything that has an ascertainable value and is subject to ownership. This definition encompasses

Correct Answer
verified

Carrie starts Dance & Diet Nutrition, a weight-loss products enterprise, before marrying Edgar. To legitimat4ely protect Carrie's business assets from Edgar's claims if the spouses divorce, Carrie could use

Correct Answer
verified

Liz starts Modern Roofing, which becomes successful through her efforts. Meanwhile, she marries Nick. To ensure that her business will not break up if her marriage falls apart, Liz should

Correct Answer
verified
A

Correct Answer
verified

Exam 36: Digital Update:the Exploding World of Digital Property

Bay City condemns private, residential property and conveys it to Commercial Construction Corporation to develop a shopping, dining, and entertainment complex on the city's waterfront. According to the United States Supreme Court,​

Correct AnswerverifiedShow Answer

Kevin and Laura are married. Together, they buy a virtual asteroid near the virtual planet Magellan in the virtual NightSky universe. In the event of a divorce, to avoid property division issues with respect to the asteroid, this couple​

Correct AnswerverifiedA

Money2Play Corporation does not make or sell products or services but buys a patent and asserts it against New Functions, Inc., a start-up applications company, demanding licensing fees and threatening an infringement suit. Because of these threats, New Functions is most likely to​

Correct AnswerverifiedShow Answer

Pay-to-Buy.com, Inc. obtains a patent on an online payment system. The patent is vaguely worded and overly broad. In evaluating the patent, a court is most likely to​

Correct AnswerverifiedA

Gwen starts Handy Crafts to advertise and sell ceramic pots, quilts, glass work, and so on. Later, Gwen marries Ivan, who creates and runs the firm's marketing. If Gwen and Ivan divorce, in most states the business will be considered​

Correct AnswerverifiedShow Answer

According to the United States Supreme Court,​

Correct AnswerverifiedShow Answer

Bob owns a virtual asteroid near the virtual planet Cosmo in the virtual DeepSpace universe. Property consists of a bundle of rights in anything that has an ascertainable value and is subject to ownership. This definition encompasses​

Correct AnswerverifiedShow Answer

Carrie starts Dance & Diet Nutrition, a weight-loss products enterprise, before marrying Edgar. To legitimat4ely protect Carrie's business assets from Edgar's claims if the spouses divorce, Carrie could use​

Correct AnswerverifiedShow Answer

Liz starts Modern Roofing, which becomes successful through her efforts. Meanwhile, she marries Nick. To ensure that her business will not break up if her marriage falls apart, Liz should​

Correct AnswerverifiedA

Correct AnswerverifiedShow Answer

Bay City condemns private, residential property and conveys it to Commercial Construction Corporation to develop a shopping, dining, and entertainment complex on the city's waterfront. According to the United States Supreme Court,

Correct Answer
verified

Kevin and Laura are married. Together, they buy a virtual asteroid near the virtual planet Magellan in the virtual NightSky universe. In the event of a divorce, to avoid property division issues with respect to the asteroid, this couple

Correct Answer
verified
A

Money2Play Corporation does not make or sell products or services but buys a patent and asserts it against New Functions, Inc., a start-up applications company, demanding licensing fees and threatening an infringement suit. Because of these threats, New Functions is most likely to

Correct Answer
verified

Pay-to-Buy.com, Inc. obtains a patent on an online payment system. The patent is vaguely worded and overly broad. In evaluating the patent, a court is most likely to

Correct Answer
verified
A

Gwen starts Handy Crafts to advertise and sell ceramic pots, quilts, glass work, and so on. Later, Gwen marries Ivan, who creates and runs the firm's marketing. If Gwen and Ivan divorce, in most states the business will be considered

Correct Answer
verified

According to the United States Supreme Court,

Correct Answer
verified

Bob owns a virtual asteroid near the virtual planet Cosmo in the virtual DeepSpace universe. Property consists of a bundle of rights in anything that has an ascertainable value and is subject to ownership. This definition encompasses

Correct Answer
verified

Carrie starts Dance & Diet Nutrition, a weight-loss products enterprise, before marrying Edgar. To legitimat4ely protect Carrie's business assets from Edgar's claims if the spouses divorce, Carrie could use

Correct Answer
verified

Liz starts Modern Roofing, which becomes successful through her efforts. Meanwhile, she marries Nick. To ensure that her business will not break up if her marriage falls apart, Liz should

Correct Answer
verified
A

Correct Answer
verified