Business Law II Ch. 16 test review

Ownership in __________ exists when one person owns all of the personal or real property involved.

• part

• severalty

• half

• total

Real property is defined as

• tangible and intangible.

• land, buildings, and fixtures.

• trademarks and copyrights.

• patents and service marks.

The three elements of a successful gift are intent, ___________, and acceptance.

• price

• amount

• delivery

• volume

The right of an owner of property to an increase in the property is called

• inheritance

• occupancy

• accession

• accumulation

Rights in personal property may be acquired by contract and eminent domain.

• True

• False

Often terms that were once protected trademarks become generic over time.

• True

• False

Joint tenancy is co-ownership with the right of

• inheritance

• survivorship

• heritage

• legacy

The ___________________ allows any co-owner to legally compel the division of the property among the co-owners.

• equal rights of possession

• right of survivorship

• right of partition

• right of fair use

While both spouses are alive they must consent together to dispose of their

• children.

• community property.

• real property.

• intangible property.

The attribute of co-ownership where no co-owner can exclude any other co-owner from any physical portion of the property is

• equal rights of possession.

• the right of partition.

• tenancy in common.

• joint tenancy.