Business Law

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.