8 Questions
What type of legal relationship arises when personal property is borrowed, rented, stored, or found by a person other than its owner?
Constructive bailment
Which type of bailment involves no money or other payment changing hands?
Gratuitous bailment
What type of ownership rights in land allows the owner to do what they want, including transfer, sell, and dispose of it?
Fee simple
Which type of interest in land lasts for the duration of a person's life and then automatically transfers to another upon death?
Life estate
What is the right to use the land of another for a specific purpose called?
Easement
In which type of bailment does the bailor lose personal property that comes into the possession of the bailee?
Constructive bailment
Which of the following involves particular obligations imposed by statutes on certain bailment relationships?
Special bailment
What type of temporary right allows occupancy of real property?
Leasehold interest
Test your knowledge on real property agreements in Canadian business law, focusing on conditions precedent, common warranties, and the closing date specified in the agreement. This quiz is based on the 4th edition of Canadian Business Law.
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