Calvin transfers land to a trust. His daughter Melissa will receive the income from the land for ten years. After ten years, the land is returned to Calvin. Calvin's interest is
A) a term certain.
B) a life estate.
C) a reversionary interest.
D) none of the above
C) a reversionary interest.
You might also like to view...
Polling is one technique used to control data collisions
Indicate whether the statement is true or false
Which of the following companies are based primarily in one country but transact business in other countries?
a. international companies b. multinational companies c. subsidies d. franchises
Which of the following is true regarding American securities exchanges?
a. The US and the UK have a system of reciprocity in place for listing the securities on one another’s stock exchanges. b. The SEC does not allow foreign companies that do not use U.S. GAAP to be listed on American stock exchanges. c. Most Japanese firms listed for trading on American securities exchanges use U.S. GAAP. d. Canadian companies may list existing shares for trading on American stock exchanges, but may not list new stock issues.
Which of the following is not a form of employee monitoring?
a. Going undercover b. Tapping landline phones c. Bullying d. Monitoring personal web postings