In a real estate contract, two parties enter into the contract to exchange real property. As the closing date approaches, the sellers have changed their minds and have decided that they are not willing to move. Compare and contrast the difference between intellectual property, real property, and personal property. Then, identify the defenses to a breach-of-contract action and which is the best action in this scenario? Give examples for each and cite your textbook. Grading Rubric Criteria Ratings Elements 4 Points (Max) Needs Improvement Fails to properly describe intellectual property, real property, and personal property; Fails to describe 1 or more defenses to a breach-of-contract action. 1 points Good Identifies the differences between the three types of property; Describes possible defenses to breach-of-contract action 3 points Exemplary Identifies the differences between the three types of property and provides examples of each; Describes possible defenses to breach-of-contract action and justifies which would be useful in this scenario. 4 points Citations 4 Points (Max) Needs Improvement Fails to properly identify all applicable textbook resources 1 points Good Clearly identifies all applicable textbook resources 3 points Exemplary Clearly identifies all applicable textbook and outside resources, using an acceptable format.

All applicable laws and citations in for the State of Nevada