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Previously…
Elements of a ContractThe Need for ContractsBreaching a ContractNegotiating an AgreementWriting a Contract
Today’s Objectives
Distinguish between the rights & responsibilities of landlords versus tenants.
Distinguish between real and personal property.
Identify the purpose of copyright and patent laws.
Evaluate the functions of different types of insurance.
Landlord-Tenant Relationship
If you rent ______ _______, such as an apartment or a house, you are a ___________.
If you own _______ ________ and rent it to someone else, you are a ________.
TENANT LANDLORD
A ________ is the contract between a tenant and a landlord. In a lease, the _______ is the tenant and the ________
is the landlord.
The Lease
Written agreement (contract) between ______ and _____
Creates _______-_______ relationship
Landlord-Tenant Disputes
Judges and Jury can decide: In favor of the Landlord In favor of the Tenant Can decide to make both parties
responsible to take some action
The Tenant
Peaceful ___________
Continued __________
Payment of _______
Abide by _____ of the ______
Avoid _______
RIGHTS RESPONSIBILITIES
The Landlord
Receive ________ of _____
Possession of the property in ______ condition at the ______ end
Refrain from ____________
Maintain the __________
__________ Possession
RIGHTS RESPONSIBILITIES
Real Property
The _________ and everything ________ attached to it
Includes ________, fences, _______, soil, rocks, _______, etc.
Personal Property
Everything other than ______
________ that can be owned Includes
________ objects and __________ property
Laws are
different
for real
vs.
personal
property!
Intellectual Property
An _______ work fixed in a _______ medium of expression
Examples include: __________ Works of art _________ Logos
Patents
A grant giving an inventor the ________ right to make, use, or sell an _______ for a certain period of time (usually __ years)
Device must be _____ and consist of a ___ principle or idea
Copyrights
A right granted to an _____, composer, _____________, or artist to ________ publish and ____ an artistic or literary work
Protected for the _______ of the ______ plus ____ years
Includes _____ items, computer ________, graphic arts, architectural _____, motion pictures, and _________ recordings
Trademarks
A _________ mark, _________, or slogan used by a business to ______ and distinguish its _____ from products sold by others
May consist of a _______, name, ______, or other device
Exclusive right to use the particular _____, name, or ________ for ____ years and may be renewed
Indicated by the ® ___________.
Insurance is an agreement in which one party (________) compensates another party (__________) for any ________.
Purpose – ______ individuals and businesses against __________ by spreading the _____ of ______ among a large number of people
Types of Insurance
Insurance Basics
_______________– written contract between the buyer of insurance (insured / policy holder) and the insurance company (insurer)
____________ – amount of money the policyholder pays for insurance coverage; usually a monthly fee
____________ – payments by the insurer for losses covered in a policy
_____________ – person named to receive the proceeds
Property Insurance
Covers ________ or __________ of property
Types of insurance include: ______ ________ _______ ____________
Automobile Insurance
Drivers are legally required to carry ________ insurance
_________ insurance covers claims for ________ or injuries made against a __________.
Homeowner’s / Renter’s
Protects against _____ of both _______ and _________ property
Includes _____, ______, ________, ________, and injuries __________ by others while on the property
Usually does _____ include _________ damage
Life Insurance
Provides __________ for losses due to a person’s _______
Cost of _______ is based on ______
Health Insurance
Basic health insurance provides for _______ & outpatient _______ care, _________ care, ______, and prescription drugs
Most people receive ________ insurance from their __________
Government Health Care
_________ is a federally funded health insurance program for people who are covered by ______________.
_________ is a health care plan for ___-__________ people.
Disability Insurance
Pays benefits if the policyholder cannot ______ because of a ____________
Many employers provide basic __________ insurance
_____-term and _____-term plans available
Medical Directive
A Medical ________ is a set of written ________ that specify what actions should be taken for a person’s health if they are no ________ able to make ________ due to _______ or ____________.