Answer the following questions in short-answer essay format. Each essay must be 6-8 complete sentences and is worth 8 points.
Each essay must include an introduction, body, and conclusion. It must address all relevant parts of each section. Cite the course textbook and, if necessary, you may cite outside sources. Proper citation format for a reference includes the name of the author(s), the title of the work, the date of the publication, and the page number.
Essay Questions
Describe the distinctions between lost, abandoned, and mislaid property. Give an example of each.
Explain the major characteristics of a corporation and what fiduciary duties, if any, the shareholders in a corporation possess.
Describe the three main types of business forms or business structures commonly used, and detail the tax implications of each.
Explain adverse possession, and describe the acronym that is commonly used to remember the elements of the concept.
Sam Superstar wants to buy a house in his name. What types of deeds are available for an owner to obtain? What is worst type of deed for a new homeowner to obtain and why?
