Question 1 of 20
A possession interest in which the lease continues for successive periods for the same length of time-weekly, monthly, or annually-and is automatically renewed at the end of the period is a:
|A. periodic tenancy.|
|B. tenancy for years.|
|C. tenancy at will.|
|D. tenancy at sufferance.|
A landlord’s promise that the premises have no defects that would impair the health, safety, or wellbeing of the occupants is an implied warranty of:
The landlord has the right to collect the agreed-upon rent as provided in the:
|A. sale deed.|
|B. quitclaim deed.|
|C. hire purchase deed.|
|D. lease agreement.|
When tenants transfer their entire interest in property for the remaining term of a lease it is a(n):
An agreement in which a suitcase is left with a railroad station checkroom is a:
|A. bailment for the sole benefit of the bailee.|
|B. bailment for the sole benefit of the bailor.|
|C. mutual-benefit bailment.|
|D. constructive bailment.|
A guest whose stay is relatively uncertain is known as a:
An individual or firm in the business of transporting goods between certain points as allowed by the various state commissions that regulate the carriers is known as a __________ carrier.
The law requires that a common carrier must accept all shipments that it is authorized to:
__________ is the right of an owner of property such as plants or animals to increase in the property. The owner of a cow, for example, owns the calves born to the cow.
|A. Statutory right|
|C. Legal right|
Ownership is held in __________ when all the rights of ownership in a particular piece of property are held by one person.
When two or more persons own equal shares of a property then it is called:
|C. joint tenancy.|
The owner of a freehold estate who holds the estate absolutely is said to hold it in:
|C. life estates.|
|D. fee simple.|
In a property, a person who holds a freehold estate only for his or her lifetime is said to hold a(n) __________ in the property.
|C. life estate|
A living trust is also known as a(n) __________ trust.
|C. inter vivos|
The responsibility of the trustee is that of a(n):
A person who makes a will is known as a(n):
If the personal representative has been named in the will, he or she is known as the:
A formal printed will must be signed by the testator and:
An agreement reached between a bailor and a bailee is a:
Legally, property other than land, including both tangible property and intangible property, is considered __________ property.