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Fundamentals of Business Law Today
Exam 28: Real Property and Landlord-Tenant Law
Path 4
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Question 1
Multiple Choice
Jack owns the surface rights for Rocky Ridge Ranch,but does not own the subsurface rights.Ginny owns the subsurface rights.Rocky Ridge Ranch has a historic barn,which is damaged when Ginny is excavating minerals from the ranch.Who is most likely responsible for the damage to the barn?
Question 2
True/False
A lease is enforceable even if the premises are intended for an ille-gal purpose.
Question 3
Multiple Choice
Phil owns a farm in South Dakota.He does not like it when planes from the local airport fly over his property.Phil is unlikely to win a case claiming that airplanes flying over his land violate his property rights unless
Question 4
True/False
A profit is the right to make limited use of another person's real property without taking anything from the property.
Question 5
True/False
Real estate sales contract are often made contingent on the buyer obtaining financing.
Question 6
True/False
A warranty deed provides the most protection against defects of title.
Question 7
True/False
The owner of a fee simple absolute has the right to use property for whatever purpose he or she sees fit.
Question 8
True/False
Land includes the artificial structures attached to it.
Question 9
True/False
An item cannot be a fixture unless it is physically attached to the land.
Question 10
True/False
A tenant is not responsible for the ordinary wear and tear of leased premises.
Question 11
Multiple Choice
Nika owns land in Ohio.Her ownership rights include the right to sell or give away the property without restriction,and the right to commit waste,if she chooses. -Refer to Fact Pattern 28-1.Nika conveys some of her land to Reggie with the right to possess and use the property for a certain period of time.Nika has given Reggie
Question 12
True/False
Plant life is not considered to be real property.
Question 13
Multiple Choice
Consumer Shops,Inc.,signs a lease for a storefront owned by Downtown Building Company.Unlike a purchaser of real property,Consumer Shops
Question 14
Multiple Choice
Oak Grove Residences,Inc.,owns apartment buildings.Pedro leases one of Oak Grove's apartments.Pedro's transfer of his interest in the lease to Quito for a period shorter than the lease term is
Question 15
Essay
Andy leases to Burgertown Franchise Corporation a 10,000 square-foot building under a written lease with a twenty-year term,rent payable an-nually.The lease includes a clause stating that Burgertown is re-sponsi-ble for making all necessary repairs,including rebuilding the structure after its destruction by any cause beyond Andy's control.The lease does not include a clause concerning its assignment.One day after the tenth rental payment,Burgertown,without Andy's knowledge or consent,as-signs its interest in the lease to Chicken Hut Restaurants,Inc.Mean-while,Andy dies and Dotty inherits Andy's interest in the building.Without the knowledge or consent of either Burgertown or Chicken Hut,Dotty sells the building to Earnest Investments,Inc.The next month,the building is destroyed in the flood of a nearby river.Burgertown rebuilds it and files a suit against Earnest for the expense.Earnest responds that the lease has terminated.Is Earnest correct? If so,when did the lease termi-nate? If not,is Earnest liable for the cost of re-building the structure? Why or why not?
Question 16
Multiple Choice
Jamal signs a lease with Kelvin to occupy a house on Leech Lake in Minnesota for the summer.Jamal's tenancy is
Question 17
Multiple Choice
Utility Power Company has the right to run its power lines across Velma's land.This is
Question 18
Multiple Choice
Sid rents an apartment from Town Properties,Inc.The lease,which ends on May 31,does not include an option for re-newal,and Sid and Town do not discuss whether Sid can stay on at the end of the term.On June 1,Sid has