Exam 58: Property and Its Protection

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

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

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,

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

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

According to the United States Supreme Court,

Online estate planning is essential because

Most likely, the responsibilities of an online executor includes dealing with a deceased's

Kim and Li own Moe's, a successful restaurant. Kim, who is married, asks Li, 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 Li's future spouse, this agreement is

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