Question 1: Which of the following is not necessary for bailment? a. Duty to return the property to the owner b. Actual delivery of possession c. Personal property d. B and C e. A and B
Question 2: The moral theory of ethical relativism can best be characterized by: a. the belief that the moral rules should be determined by persons who have a "veil of ignorance" about their place or station in society. b. the belief that a person must decide what course of action is proper based on that person's own set of beliefs or feelings. c. the consultation of an outside source, such as a book or person, for guidance. d. a set of universal rules based on reasoning that must be applied in all situations and is characterized by reversibility. e. determining which course of action produces the greatest amount of good for the greatest number of people.
Question 3: Lance had a 2-year lease with Lisa. At the end of the 2 years, Lance stayed in the leased premises and kept making his rent payments. Lisa consented to this arrangement. This arrangement is best described as a: a. tenancy at fee simple. b. tenancy at will. c. tenancy at sufferance. d. tenancy for years. e. periodic tenancy.
Question 4: In real estate law, the distinguishing feature of a profit is: a. the right to lease the property and keep the rents. b. the right of an owner to exclude others from the land. c. the right to remove something from the property of another. d. the right to use the land of another.
Question 5: Sean decides to purchase some property in 50/50 ownership with one of the guys at work. They plan to build a vacation home on it. Sean wants to make sure that if he dies his wife and kids will get his share of the property. Sean and his friend should own the property as: a. tenants by the survivorship. b. tenants in common. c. tenants for life and death. d. joint tenants. e. tenants by the entirety.