Exam 14: Real and Personal Property and Protection of the Environment

A subsidiary contract creating an obligation to hold an offer open for acceptance until the expiration of a specified time is known as ________.

Which of the following describes involuntary bailment?

If Sam buys the fee simple,which of the following is true with regard to his rights?

Serious civil and criminal penalties can result from environmental damage.Discuss methods of risk reduction that businesses can implement to reduce or avoid liability.

It is common today for a ________,needing more funds,to transfer the equity of redemption to another creditor as security for a further loan.

A husband and wife own Lot A as joint tenants and Lot B as tenants in common.The husband's will reads: "I leave Lot A to my son John and Lot B to my daughter Mary." Who takes what when the husband dies?

A distinction between real property and personal property is that one cannot be moved while the other can.

Explain what is meant by chose in action.

Joe verbally agreed with his landlord to a two-year lease for an apartment.Only five months later,the property was sold to somebody else.The new owners gave Joe three months to vacate the premises.Explain Joe's legal rights under these circumstances.

A gratuitous bailment can occur when someone borrows an item from a neighbour.

Term lease describes a period-to-period rental.

Which of the following statements is correct with respect to the creation of a bailment?

Does the principle of frustration apply in landlord and tenant relationships?

An option agreement is

Environmental offences,which can lead to cleanup orders,large fines,and even jail terms,are a thing of the past since they have largely been replaced by the negotiation of solutions.

In 2005,Jonah sold a building to his two married sons: Bert and Charles.In 2015,Charles was thinking of severing the joint tenancy,but before anything was said or done,Charles and Bert both drowned in a boating accident.Charles died immediately,but Bert died two months later,never having regained consciousness.Charles had willed his interest in the property to his wife and Bert had willed his to his son.On these facts,which of the following is false?

What is the lessor's obligation to ensure quiet enjoyment?

Discuss how the process of an item becoming a fixture can interfere with the priority of creditors in secured transactions.

When a person acquires temporary possession of a chattel by arrangement with the owner,it is known as which of the following?

A right of way is an example of an estate in land since it gives the holder of it the right to go across the land.