Explain the rights of the owners and the association in a condominium ownership interest
What will be an ideal response?
In a condominium ownership interest, the owner acquires title to a "unit" within a building, along with an undivided interest in the land, buildings, and improvements of the "common areas" of the development. When the condominium is developed, a Declaration of Covenants, Conditions, and Restrictions (called CC&Rs) is filed. This document contains the architectural and use restrictions for the condominium development, assessments, and instructions for forming the condominium association that will manage the condominium. The association has the power, as provided in the CC&Rs, to levy assessments against the unit owners in order to manage, maintain, insure, repair, and replace the common areas. The association likewise has the authority to fine unit owners who do not comply with the CC&Rs.
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Which of the following is true of the remedy of avoidance used by an injured party of a contract?
A. It can be used without notification to the injuring party. B. It revokes all the provisions governing the rights and duties of the parties. C. It cancels out any provisions in the contract concerning the settlement of disputes, once used. D. It can be used in case a fundamental breach of the contract has been observed.
In DBR (drum-buffer-rope), which of the following is the mechanism that synchronizes or subordinates all other resources and decisions to the activities of the drum in order to maximize its effectiveness?
a. drum b. buffer c. rope d. schedule
Andrew and Jennifer are in the 25% marginal tax bracket. Three years ago they purchased 100 shares of stock at $20 a share. In 2015, they sold the 100 shares for $29 a share
What is the amount of federal income tax they owe as a result of this sale? A) $135 B) $165 C) $225 D) $435
In which famous case did Jurist Oliver Wendell Homes declare Virginia's compulsory-sterilization law constitutional and infamously write, "Three generations of imbeciles are enough"??
A) ?Buck v. Well B) ?Buck v. Dell C) ?Buck v. Bell D) ?Bach v. Dell