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Table of Contents
Assignment: Personal Property
Due Date
This assignment is due by the end of the 5th day of the module and is worth 20 points.
Introduction
Please refer to the relevant concepts and/or case law from your readings in response to the questions below.
Assignment Instructions
Respond to the following two questions:
1. Hot Coffee has been leasing a store to sell their custom coffee mugs. They purchased and installed cabinets, shelves, and a counter to display and sell the mugs. What is the test used to determine if something is a fixture? Are these items considered personal property or fixtures? Will they belong to Hot Coffee or to the landlord when the lease expires?
2. If Hot Coffee and the landlord decided to each contribute 50% to the purchase of a new location for the Hot Coffee business, what are two of the options they could use to buy the property together? What are the consequences for each option?
Requirements
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