LEGL2700- Roessing Test 2 Q&A Latest Update 2025

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LEGL2700- Roessing Test 2 | Q&A Latest 2025/2026 | 100% PASS property - Answer -the legal right to exclude others from resources that are originally possessed or are acquired without force, theft, or fraud private property - Answer -a system of law under which the state recognizes and enforces an individual's rights to acquire, possess, use, and transfer scarce resources capital formation - Answer -quality of resources that produces new or different resources mortgage - Answer -lenders are willing to loan money at affordable rates primarily because property law guarantees 1) that a borrower's house is on an identifiable piece of land recognized by the state 2) that the state recognizes a borrower's claim to the house 3) that the state permits lenders to enforce the mortgage agreement through the courts and sell a borrower's house to satisfy the loan if the borrower fails to repay it divisibility - Answer -how property permits resources to be broken into parts and used in many ways while the owner still retains a property interest in each part real property law - Answer -applies ownership to land and interests in land such as mining rights or leases; very formal rules