The Solomans own a cabin on the south side of Mount Henry. The Solomans told Bennie and Claudia they could live in the cabin and use it as they wished until the Solomans wanted to use it again. Twelve years later, the Solomans informed Bennie and Claudia that they were going to spend the summer at the cabin and that Bennie and Claudia would have to make other arrangements for the summer. Bennie and Claudia claimed that they had acquired title by adverse possession, because they had occupied the property for the period of time required for adverse possession under state law (10 years in that state). Are Bennie and Claudia correct?
A. Yes, Bennie and Claudia were living on the property with exclusive, open possession for a continuous period of time for the required 10 years.
B. Yes, Bennie and Claudia had the Solomans' permission, therefore the possession was not illegal.
C. No, Bennie and Claudia's possession was with the Solomans' permission, and therefore the claim was not adverse to the Solomans.
D. No, there was no warranty deed transferred to Bennie and Claudia.
Answer: C
You might also like to view...
Identify TWO stakeholders of your organization and explain your organization’s responsibilities to each of these groups.
What will be an ideal response?
Which of the following is an activity that would most likely be performed by a customer service representative (CSR)?
A) processing employee paperwork B) delivering supplies to the factory floor C) providing telephone support for installation D) calling on prospects to sell them the product E) reconciling bank statements with accounting records
When a product is in the growth stage of its product life cycle, it is necessary to ensure that:
a. all elements of the promotional mix are equally utilized. b. advertising and public relations continue to remain important. c. persuasive and reminder advertising are decreased. d. personal selling is reduced to a large extent.
In the context of debt financing, if a firm invests the borrowed funds profitably, the use of debt can improve the _____ to the shareholders by not diluting existing shares of stock.
A. total contract value B. resource rent C. return on equity D. gross profit