Title: Competency Assessment: (CU2 M2)
Course: Business Law > Section: Credit Unit 2 Module 2

In a three-page Microsoft Word Docx or rtf file format document, please respond to the following three situations.  Be thorough and complete in your responses.  Use references to support your position and cite them appropriately:

1. Would you be willing to pay real money for non-real property in a virtual world like Second Life? Why or why not? What are people buying when they buy virtual real property? How does this differ from buying actual real property, like land?

2. If you found a prototype of the next-generation iPhone lying on a bar stool, what would you have done with it? What would be the consequences of your chosen action?

3. Do you agree that a land’s value is only its profits? If not, what makes land valuable? Does it have an “inherent” value, which has nothing to do with human profit?

Your response should be typed, double-spaced in standard-sized document (8.5" x 11") with 1" margins on all sides. You should use a clear font that is highly readable. APA recommends using 12 pt. Times New Roman font. Citations should be in APA format.

Points
12
Submitting
a file upload

Due | For | Available from | Until
-N/A | Everyone | -N/A | -N/A

Rubric

Competency Assessment (CU2 M2)

Competency Assessment (CU2 M2)
Criteria | Ratings | Pts
This criterion is linked to a Learning OutcomeReal Property: Tangible and Intangible
4 pts = Author thoroughly understands Real Property and applies concepts to the scenario presented with great detail. Author also distinguishes between tangible and intangible property. 3 pts = Author evaluates Real Property and loosely applies concepts to the situation presented. Author mentions tangible and intangible property. 2 pts = Author explains Real Property but fails to fully connect to the scenarios presented. 1 pt = Author mentions Real Property but fails to connect to the scenario presented. 0 pts = Insufficient
4.0 pts Competent: exceeds expectations | 3.0 pts Competent: meets expectations | 2.0 pts Progressing | 1.0 pts Unsatisfactory | 0.0 pts Insufficient
4.0 pts
This criterion is linked to a Learning OutcomePersonal Property
4 pts = Author thoroughly describes Personal Property and relates to situation presented. 3 pts = Author addresses Personal Property and relates to example 2 pts = Author shows signs of understanding Personal Property and relates to example. 1 pt = Author does not understand Personal Property. 0 pts = Insufficient
4.0 pts Competent: exceeds expectations | 3.0 pts Competent: meets expectations | 2.0 pts Progressing | 1.0 pts Unsatisfactory | 0.0 pts Insufficient
4.0 pts
This criterion is linked to a Learning OutcomeOwnership
4 pts = Author synthesizes knowledge and discusses Ownership. Author is thorough. 3 pts = Author understands Ownership and relates with examples 2 pts = Author loosely evaluates Ownership and relates to example. 1 pt = Author does not understand Ownership. 0 pts = Insufficient
4.0 pts Competent: exceeds expectations | 3.0 pts Competent: meets expectations | 2.0 pts Progressing | 1.0 pts Unsatisfactory | 0.0 pts Insufficient
4.0 pts
This criterion is linked to a Learning OutcomeCourse Outcome 01: Explain the origins of the American legal system.
threshold: 3.0 pts
4.0 pts Competent: Exceeds expectations | 3.0 pts Competent: Meets expectations | 2.0 pts Progressing | 1.0 pts Unsatisfactory | 0.0 pts Insufficient
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This criterion is linked to a Learning OutcomeCourse Outcome 04: Recognize the interconnectedness of the legal system to business, society and the environment.
threshold: 3.0 pts
4.0 pts Competent: Exceeds expectations | 3.0 pts Competent: Meets expectations | 2.0 pts Progressing | 1.0 pts Unsatisfactory | 0.0 pts Insufficient
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Total Points: 12.0