Betty starts up a business selling party supplies from a retail store. This business is very
successful. She opens several other stores in the same city. She eventually has six similar stores
in her city.
She has a manager for each store who is paid a fixed annual salary. All her other
employees are paid on an hourly basis. She has never chosen any particular form of business
organization for this business. This business is most likely:
A) A franchise.
B) A corporation.
C) A joint venture.
D) A sole proprietorship.
E) A partnership.
D
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Which of the following would be covered under Coverage A Dwelling of a Homeowners policy?
A) Vandalism of a vacant dwelling occurring after 90 days of vacancy. B) Damage to land on which the dwelling is located. C) Materials and supplies used to repair, alter or construct the dwelling located within 100 feet of the dwelling. D) Theft from a dwelling under construction before the dwelling is occupied.
The Rameys are selling their home. They did not set forth in the sales agreement whether the washer and dryer, the draperies, and a cherry corner cabinet that was in the dining room were to be included in the sale or whether they were planning to take
these items with them. The buyers are claiming these items are fixtures and should stay with the house. The Rameys are claiming they are movable goods and they should not be part of the real estate which was sold. Define "fixtures," identify the tests used to determine whether an item is a fixture, and explain whether you think each of the contested items is a fixture and why or why not.