Ch24-TB-BLTE-8e

Ch24-TB-BLTE-8e - Chapter24 RealPropertyand EnvironmentalLaw

Info iconThis preview shows pages 1–5. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 24 Real Property and Environmental Law TRUE/FALSE QUESTIONS 1. Real property includes land and everything permanently attached to it. ANSWER: T PAGE: 731 TYPE: N MISC: AACSB Analytic Skill Level: AICPA Legal 2. Surface and subsurface rights cannot be separated. ANSWER: F PAGE: 732 TYPE: N MISC: AACSB Analytic Skill Level: AICPA Legal 3. Generally, if an owner intends something to be a fixture, it is a fixture. ANSWER: T PAGE: 733 TYPE: N MISC: AACSB Analytic Skill Level: AICPA Legal 4. The rights that accompany a fee simple absolute include the right to use  the land for whatever purpose the owner sees fit. ANSWER: T PAGE: 734 TYPE: N MISC: AACSB Analytic Skill Level: AICPA Legal 5. The holder of a life estate does  not  have the right to mortgage the property. ANSWER: F PAGE: 735 TYPE: N MISC: AACSB Analytic Skill Level: AICPA Legal 113
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
114 TEST BANK TO ACCOMPANY BUSINESS LAW TODAY: THE ESSENTIALS 6. A license is the conveyance of an interest in property that is not revocable. ANSWER: F PAGE: 735 TYPE: N MISC: AACSB Analytic Skill Level: AICPA Legal
Background image of page 2
CHAPTER 24: REAL PROPERTY AND ENVIRONMENTAL LAW 115 7. A warranty deed provides the most protection against defects of title. ANSWER: T PAGE: 736 TYPE: N MISC: AACSB Analytic Skill Level: AICPA Legal 8. Under a quitclaim deed, a buyer promises to “quit” the property if the seller  or any third party files a claim to it. ANSWER: F PAGE: 738 TYPE: N MISC: AACSB Analytic Skill Level: AICPA Legal 9. Adverse possession is a means of obtaining title to property without the  delivery of a deed. ANSWER: T PAGE: 738 TYPE: N MISC: AACSB Analytic Skill Level: AICPA Legal 10. The Constitution limits a government’s exercise of its power of eminent  domain. ANSWER: T PAGE: 739 TYPE: N MISC: AACSB Analytic Skill Level: AICPA Legal 11. A tenancy at will is created by an express contract by which property is  leased for a specified period of time. ANSWER: F PAGE: 741 TYPE: N MISC: AACSB Analytic Skill Level: AICPA Legal 12. A tenancy for years is created when a lease does not specify its duration. ANSWER: F PAGE: 741 TYPE: N MISC: AACSB Analytic Skill Level: AICPA Legal 13. A periodic tenancy is created when a landlord rents property to a tenant  “for as long as both shall agree.” ANSWER: F PAGE: 741 TYPE: N MISC: AACSB Analytic Skill Level: AICPA Legal 14. A lease is  not  enforceable if the leased premises are to be used for an illegal  purpose.
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
116 TEST BANK TO ACCOMPANY BUSINESS LAW TODAY: THE ESSENTIALS ANSWER: T PAGE: 742 TYPE: N MISC: AACSB Analytic Skill Level: AICPA Legal 15. By a covenant of quiet enjoyment, a property owner guarantees to enjoy his  or her property without disturbing the neighbors. ANSWER:
Background image of page 4
Image of page 5
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 22

Ch24-TB-BLTE-8e - Chapter24 RealPropertyand EnvironmentalLaw

This preview shows document pages 1 - 5. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online