Paralegal Law Exam Questions and Answers 100% Pass

Paralegal Law Exam Questions and Answers 100% Pass The Statute of Frauds requires that certain contracts be in writing. -Answer-True Personal property consists of a person's privately owned property whereas real property consists of business equipment. -Answer-False, Personal property consists of a person's privately owned property whereas REAL PROPERTY consists of LAND or REAL ESTATE. This is covered on page 474. A house is an example of real property. -Answer-True. A house is real estate, built on land. The trees and plants growing on land are considered real property, but when they are cut or harvested they become personal property. -Answer-True. The most important difference between a joint tenancy and a tenancy in common is that upon a joint tenant's death the deceased person's share passes to his or her heirs. -Answer-False. The most important difference between a joint tenancy and a tenancy in common is that upon a joint tenant's death the deceased person's share passes to THE SURVIVING JOINT TENANT. If the government wishes to take private property through its power of eminent domain, it must provide the owner with just compensation. -Answer-True When someone dies without a valid will, that person is said to have died testate. -Answer-False.When someone dies without a valid will, that person is said to have died INTESTATE. It is possible to obtain ownership rights through adverse possession -Answer-True Personal property can be classified as either tangible or real. -Answer-False. Personal property can be classified as either tangible or intangible. Personal property cannot be classified as real. An oral will is called a nuncupative will. -Answer-True Despite its name, a sole proprietorship can have up to three owners. -Answer-False.A sole proprietorship is a business owned by a single person. A partnership requires two or more owners who serve as coowners and run the business for profit. -Answer-True