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. Suppose that one year after she buys her land, Jill gives her sister Kate the right to use the 3 acres of beach-front property so long as she lives. This is known as:
a. a fee defeasible b. a fee simple
c. a life estate
d. a remainder interest e. a past interest
c
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A) a warranty of merchantability. B) strict liability. C) an express warranty. D) the warranty of fitness for a particular purpose.
______ provide a frame of reference, helping us to set priorities and to determine right from wrong.
A. Ethics B. Habits C. Values D. Roles
If your noncompetitive bid for a Treasury bill is successful, then you will
A) certainly pay less than if you had submitted a competitive bid. B) certainly pay more than if you had submitted a competitive bid. C) pay the average of prices offered in other noncompetitive bids. D) pay the same as other successful noncompetitive bidders.
The Gramm-Leach-Bliley Act includes three key rules that affect personal privacy: financial privacy rule, safeguards rule, and pretexting rule
a. True b. False Indicate whether the statement is true or false