1.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.
2.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:
A. merchantability.
B. habitability.
C. safety.
D. title.
3.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.
4.When tenants transfer their entire interest in property for the remaining term of a lease it is a(n):
A. leasehold.
B. sublease.
C. eviction.
D. assignment.
5.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.
6.A guest whose stay is relatively uncertain is known as a:
A. traveler.
B. customer.
C. transient.
D. temporary.
7.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.
A. business
B. government
C. public
D. common
8.The law requires that a common carrier must accept all shipments that it is authorized to:
A. purchase.
B. handle.
C. hypothecate.
D. pledge.
9.__________ 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
B. Accession
C. Legal right
D. Anticipation
10.Ownership is held in __________ when all the rights of ownership in a particular piece of property are held by one person.
A. severalty
B. solitary
C. defiance
D. accession
11.When two or more persons own equal shares of a property then it is called:
A. severalty.
B. co-ownership.
C. joint tenancy.
D. multiparty.
12.The owner of a freehold estate who holds the estate absolutely is said to hold it in:
A. accession.
B. easements.
C. life estates.
D. fee simple.
13.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.
A. accession
B. precession
C. life estate
D. benefit
14.A living trust is also known as a(n) __________ trust.
A. testamentary
B. contemporary
C. inter vivos
D. constructive
15.The responsibility of the trustee is that of a(n):
A. fiduciary.
B. probationary.
C. stationary.
D. exemplary.
16.A person who makes a will is known as a(n):
A. testator.
B. administrator.
C. executor.