Podcast
Questions and Answers
Which of the following is NOT a characteristic of American common law?
Which of the following is NOT a characteristic of American common law?
- Rooted in English common law traditions
- Based on the principle of stare decisis
- Derived solely from statutory law (correct)
- Subordinate to legislative statutes
If a personal property item becomes permanently attached to real property, what is it considered?
If a personal property item becomes permanently attached to real property, what is it considered?
- Easement
- Profit
- Fixture (correct)
- Fee simple absolute
Which of the following is NOT part of the 'bundle of rights' associated with property ownership?
Which of the following is NOT part of the 'bundle of rights' associated with property ownership?
- The right to profit from the property
- The right to transfer ownership
- The right to use the property without limitations (correct)
- The right to exclude others
What is the term used to describe the government's right to take private property for public use, with due process and just compensation?
What is the term used to describe the government's right to take private property for public use, with due process and just compensation?
In the context of real estate transactions, what is the term used to describe the situation where a broker represents both the buyer and the seller?
In the context of real estate transactions, what is the term used to describe the situation where a broker represents both the buyer and the seller?
According to the majority rule regarding broker commissions, what is required for a broker to earn their commission?
According to the majority rule regarding broker commissions, what is required for a broker to earn their commission?
Which of the following is NOT a required element for a contract to be enforceable?
Which of the following is NOT a required element for a contract to be enforceable?
What is the term used to describe the legal principle that certain types of contracts must be in writing to be enforceable?
What is the term used to describe the legal principle that certain types of contracts must be in writing to be enforceable?
Which of the following is an example of administrative law?
Which of the following is an example of administrative law?
What is the term used to describe a non-possessory right to use or cross another's land?
What is the term used to describe a non-possessory right to use or cross another's land?
