Common law refers to
A) law that is the same or similar in all the states
B) law made when judges decide cases and then follow those decisions in later cases.
C) law made by legislatures in the form of statutes.
D) the legal systems of France, Germany, and Italy.
B
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Which of the following is an intentional tort against economic interests?
A) misappropriation B) conversion C) false light D) defamation
In which of the following situations have both parties given consideration to support a contract?
A) Pat, because of the great job that a contractor did in building an addition onto her house last year, promises to give the contractor an extra $1,000. B) Pat promises to give her mother $100 per month for the next ten years for all the work that her mother did in raising Pat. C) Pat, an accounting professor, agrees to tutor one of her students in the study of French for $10.00 per hour. D) Pat, a police officer, agrees to patrol someone's neighborhood while on duty for $100 a week.
Which of the following items will result in an inclusion in gross income?
A. Jane receives a check from her stock broker for $50,000 due to the sale of stock purchased five years ago for $60,000. B. A 10% stock dividend for all shareholders is declared by the board of directors of a publicly-traded corporation. Mel receives 10 shares of stock worth $1,000. C. George won $50 at his church's bingo game night. D. Due to the discovery of oil beneath Finn's land, the value of Finn's land increases $1,000,000.
Calvin transfers land to a trust. Calvin retains the right to the income from the land for the rest of his life. Upon his death, the land is to be transferred to his daughter, Melissa. Melissa's interest is
A) a remainder interest. B) a life estate. C) a reversionary interest. D) a term certain.