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Sources of American Common Law Quiz

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Questions and Answers

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?

Easement

Profit

Fixture (correct)

Fee simple absolute

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?

Eminent domain Signup and view all the answers

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?

Dual agency Signup and view all the answers

According to the majority rule regarding broker commissions, what is required for a broker to earn their commission?

No closing is necessary; the broker earns the commission upon producing a buyer Signup and view all the answers

Which of the following is NOT a required element for a contract to be enforceable?

Notarization Signup and view all the answers

What is the term used to describe the legal principle that certain types of contracts must be in writing to be enforceable?

Statute of frauds Signup and view all the answers

Which of the following is an example of administrative law?

The Chicago Building Code Signup and view all the answers

What is the term used to describe a non-possessory right to use or cross another's land?

Easement Signup and view all the answers