As the popularity of social networking has skyrocketed over the last couple of years, the Internet of five years ago has indeed come and gone. Web 2.0 is now the talk of major Internet players and venture capitalists across the globe. What is Web 2.0? It is the next generation of Internet interactivity and utility platforms. In a nutshell, Web 2.0 involves the facilitation of enhanced web user activities and experiences via systems that allow users to more easily interact, communicate, share information, learn and collaborate with one another. Witness the huge success of Wikipedia, a free multi-lingual encyclopedia. Formed in January of 2001, Wikipedia has quickly become one of the most visited websites in the world with more than six million articles in 250 languages currently hosted. The premise of the founders of Wikipedia was simple: create a place where users from all over the world can write and edit articles and entries according to their area of expertise. In turn, conten
Law or Rules of Real Estat The Statute of Frauds is a really old law that originated in England in 1677. It requires that certain transactions must be in writing, signed by the party to be charged, basically the person being sued. Real estate purchases are one of the transactions covered by the statute of frauds. In real estate transactions, the SOF further requires that the writing contain a description of the property, a description of the parties, the price, and any agreed to conditions of price or payment. There are a few exceptions to this rule. Part Performance is when someone has paid all or part of the purchase price, taken possession, and/or made substantial improvements to the land. For example, if Bob made an oral contract with Sue to buy property, paid her a down payment of 25% of the agreed purchase price, and built a house on the land, then even though the SOF would invalidate the oral contract, Sue could argue that Bob's partial performance proves the existe