Which of the following statements is true about easements?
A) One who has an easement is entitled to exclude all others, including the property owner for the period of the agreement.
B) One who has an easement is entitled to use the property for any legal purpose that does not destroy the property's value.
C) An easement by prescription arises when the landowner enters into a contract to allow the land to be used for a specific purpose.
D) An easement by necessity arises when a piece of property is divided and, as a result, one portion is landlocked.
D
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Which of the following is TRUE of limited partners in a limited partnership?
A) They have limited liability for the debts of the business but their potential for profits is unlimited. B) They usually have first claim to profits and losses made by the business. C) They assume the same operational duties as that of the general partner. D) They have to assume a liability beyond their contribution in the business in the event of a bankruptcy.
LandPort Transportation and Omega Warehousing help companies move and stock goods from their manufacturing plants to their destinations. These two businesses are examples of ________
A) resellers B) marketing services agencies C) financial intermediaries D) physical distribution firms E) wholesalers
Which of the following principles does utilitarianism emphasize?
A. Obeying the law and keeping promises B. Ensuring that a fair decision is an impartial decision C. Acting only out of self-interest D. Producing the greatest good for the greatest number
Which of the following are defined in the text as the result of the process of identifying, classifying, and interpreting various phenomena or precepts?
a. Concepts b. Principles c. Postulates d. Axioms