The grant, "To my husband for life, then to the Osborn Observatory provided that the observatory has a governing board in place," creates which future interest?
A) Reversion
B) Contingent remainder
C) Fee simple subject to a condition subsequent
D) A remainder that violates the rule against perpetuities
B
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Corporate governance is a process by which the owners, but not the creditors, exert control and require accountability for the resources entrusted to the organization
a. True b. False Indicate whether the statement is true or false
When a firm has risky debt, its equity can be viewed as an option on the total value of the firm with an exercise price equal to the face value of the debt.
Answer the following statement true (T) or false (F)
If the expected path of one-year interest rates over the next five years is 1 percent, 2 percent, 3 percent, 4 percent, and 5 percent, then the pure expectations theory predicts that the bond with the highest interest rate today is the one with a
maturity of A) one year. B) two years. C) three years. D) four years. E) five years.
In the project schedule, the duration of the project is
a. equal to or less than the total of the durations for all the individual activities. b. more than the total of the durations for all the individual activities. c. always equal to the total of the durations for all the individual activities. d. always less than the total of the durations for all the individual activities.