Jill recently inherited money from her old aunt Maude. Jill decided to buy beach-front property in Beaufort, South Carolina. Jill's new property consists of 3 acres of land, with direct access to the ocean. When she bought the land there is no home on it, but she wants to build a beach home in the future. A year after she bought the lovely lot, the city of Beaufort rezones the land, prohibiting
any building so that other residents can enjoy the view. Grady comes to Jill, after she was purchased the 3 acres of land and asks her if he can fish on her property. Jill tells Grady that she will be happy to allow him to fish on her land whenever he wishes, so long as he pays her $500.00 per year for the right. If Grady agrees and he and Jill write an agreement to this effect, what they have is:
a. a covenant
b. an easement
c. a collective right
d. a disenfranchised right
e. an easement by prescription
b
You might also like to view...
The purpose of financial reporting is to provide economic information to external decision makers only
a. True b. False Indicate whether the statement is true or false
During the prospecting step of the selling process, the salesperson meets the customer for the first time
Indicate whether the statement is true or false
Of the following acts, the one that is not a crime is
a. slander. b. arson. c. embezzlement. d. shoplifting.
Oswaldo Enterprises began to do business in a small East African nation. The representatives of Oswaldo bid on government contracts. Although Oswaldo was by far the lowest bidder and offered a superior product, the company was not awarded a contract
Oswaldo officials learned after inquiring that the company would have to give substantial sums of money to high-level government officials in order to receive a contract. Oswaldo officials are considering this as a necessary cost of doing business, but they are concerned about violating U.S. law. Discuss the implications of this under the Foreign Corrupt Practices Act.