BUS 110-93751 (F2F) Bus Law Legal Environment. Final Exam (Module 9-16) (Remotely Proctored)

BUS110 Final Exam (Module 9-16) (Remotely Proctored) Attempt Score 192 out of 200 Question 1 4 / 4 pts Bill purchased a plot of land for which the deed states that the grantor transfers the property "to grantee and his or her heirs". This would have the legal effect of creating a(n) _____. fee simple absolute leasehold estate accession fixture fee simple defeasible Question 2 4 / 4 pts The western states of the U.S. have adopted the riparian rights theory to deal with a landowner's rights to water. False True Correct! Correct! Question 3 4 / 4 pts Possession by one co-tenant is deemed permissive as either or all are legally entitled to possession. True False Question 4 4 / 4 pts The tenant of a cooperative does not own a particular unit, but, rather, a share in the entire building. True False Question 5 4 / 4 pts A tenant cannot transfer his/her leasehold interest in order to make money on the leasehold itself. False True Question 6 4 / 4 pts Which of the following is a characteristic of periodic tenancy? No periodic tenancy may last longer than from year to year. It is sometimes called a tenancy for years. It can be ended only by a notice of termination by the landlord. No prior notice needs to be given for the termination of the tenancy. The tenant cannot be ejected without his consent. Question 7 4 / 4 pts Jacob's will stated that $100,000 each would be given to his wife, Melisa, and two children, Tim and Ben. But upon his death, it was found that his estate was worth only $240,750. Hence, the bequests to his wife and two children are said to have _____, and each would only get $80,250. abated devised exempted converted executed Question 8 4 / 4 pts Which of the following would be considered an ordinary receipt under the Uniform Principal and Income Act (UPIA)? Rent payments received Stock dividends Revenue from sale of trust assets Proceeds from insurance on assets All income accrued at the testator's death Question 9 4 / 4 pts Which of the following is one of the main characteristics of a whole-life insurance policy? It provides insurance protection over one's entire lifetime. It furnishes protection for a limited number of years. Nothing is paid in case of survival. It terminates with no maturity value. The face amount of the policy is payable only if the insured's death occurs during the stipulated term. Question 10 4 / 4 pts James, a landlord, was negligent in repairing the broken step. Lily, the tenant, tripped and broke her ankle. She sued James for his negligence and demanded a sum of $3,457.82. Which of the following types of insurance would have covered the risk for James? Homeowner's insurance Property insurance Disability insurance Health insurance Liability insurance Question 11 4 / 4 pts Which of the following is true of general agents? They can alter the principal's legal relationships with third parties. They are appoi...

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