business law

21. Sunil and his brother Leandro set up an investment account with a bank, as Tenants in Common. Each puts $25,000 into the account, and they buy and sell stock together, splitting all interest and dividend income equally, and sharing any losses equally. After about thirty years of doing this, the account has grown to a total of about $200,000. Sunil got married, and had one child, Arjun. Sunils wife unfortunately died in 2015. Leandro has never married, and has no children. Sunil died in February, 2020. Leandro is claiming ownership of the entire Investment account. Result if Arjun challenges Leandro in court? Everyone lives (or lived) in the State of Washington.

A. Leandro will be awarded ownership of the entire account.

B. Arjun will be awarded half of the account.

22. Billy-Bob owns a condo in Seattle, and a farm in Yakima. His older brother, Bobby-Lee, has some severe health problems and is unable to work anymore, and just has Social Security Disability income of about $800/month. Billy-Bob records a deed giving a life estate to Bobby-Lee as long as he lives, with the remainder to go to Billy-Bobs sister, Judy.

A. Bobby-Lee now owns the fee simple title to the property, as long as he lives.

B. Once Bobby-Lee dies, Judy will own the fee simple title to the property.

C. No one will own the fee simple title to the property.

23. What is an easement?

A. The exclusive right to buy someones land if they want to sell it.

B. The right to enter someones land, and take something from it, like minerals.

C. The temporary right to be on someones land.

D. The permanent right to cross over or be on someones land for a particular purpose.

24. Serena has a large garden on her property in Seattle, but she wants to make it bigger. She enlarges her garden to go over onto her next-door-neighbor Nels land by about ten feet, and she puts up a wooden fence to keep anyone else from using the garden area. No one objects, so Serena continues to use the enlargened garden area as her own for the next 21 years! Finally, her next-door-neighbor Nel dies, and Nels estate sells the property to a new owner. The new owner has a survey done, and finds out that Serenas fence is on Nels former property. Serena refuses to take the fence down, and the new owner takes Serena to court. Who wins?

A. The new owner will win Nel never gave Serena this land, so it should belong to the new owner!

B. Serena will win she now owns the land by eminent domain.

C. Serena will win she now owns the land by adverse possession.

D. Serena will win she now owns the land by specific performance.

25. Leilani signs a lease to take possession of a house near Greenlake, beginning April 1, 2020, and ending December 31, 2020. She will pay rent of $2,000 per month on the first day of each month. This is an example of:

A. a periodic tenancy

B. a tenancy for years

C. a tenancy at will

26. Jun rents an apartment in the University District in Seattle. He invites a few friends over for dinner on the weekend. While preparing the food, he spills some water on the kitchen floor, and forgets to clean it up. One of his guests (Zhang) walks into the kitchen, slips on the water, and falls and breaks his leg. Who is legally responsible for the medical expenses, and lost wages for Zhang?

A. The Landlord

B. Jun, the Tenant

C. Zhang

27. Maha has a lease to rent an apartment until December 31, 2020, at $1,500 per month. The owner of the apartment building has just sold the building to Jean-Louis. Jean-Louis sent Maha a notice, telling Maha that he is raising her rent to $1,600 per month, immediately.

A. The new owner has the right to increase rents he is not bound by the previous owners agreements.

B. Maha can enforce her lease against Jean-Louis, just as she could against the previous owner.

28. True or False Copyrights are a type of property.

29. True or False A patent will usually last for the lifetime of the inventor.

30. True or False A trade secret has to be filed with the US Copyright Office in order to enforce it in court.