Question: 1. Explain the difference between real property and personal property. Why is the distinction important? What is a fixture? Is it real or personal property?

1. Explain the difference between real property and personal property. Why is the distinction important? What is a fixture? Is it real or personal property? Explain.

2. What is a bailment? How is a bailment different than a secured interest? Provide an example of each to explain the difference.

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