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makkiz [27]
2 years ago
8

16. John Smith has been a bachelor for most of his life and has been very happy that way. He has spent the last seven years livi

ng in an apartment building on Center Street. One day, John Smith met the love of his life, Pocahontas, and they decided to get married. Five years later, the happy couple decided to sell a large parcel of land that Pocahontas received in fee simple absolute after an ugly divorce from her spouse before John Smith. Mickey Mouse is a ready, willing, and able buyer. Mickey would like a general warranty deed.
Which of the following correctly lists who must sign the deed?
a. Mickey Mouse because he is the Grantor
b. Pocahontas because she is the Grantor and her prior spouse to release
dower rights
c. Pocahontas because she is the Grantor and John Smith to release
dower
d. Pocahontas and John Smith because they each own the property as
co-tennants in common














17. Mickey Mouse and Minnie Mouse live on a very large farm. The farm is a parcel of land that contains roughly six acres of land with two acres abutting Magic Mountain Lane on the North side of the property. There are no other roads touching the property. Their house is located on the back two acres of land, furthest away from the road, on the south side of the property. Mickey and Minnie have used their driveway for the past ten years. Donald Duck purchased the northerly two acres of property and continued to allow Mickey and Minnie to use their driveway, which crosses his property, for twenty-one years. At the same time, Mickey and Minnie purchased the adjacent six acres that connects to both their existing property and Magic Mountain Lane. Mickey and Minnie have even enclosed their driveway with a fence. Donald Duck has had enough and filed suit against Mickey Mouse and Minnie Mouse to declare the driveway to be his. The Court finds that the Mouse’s use has been open, continual, exclusive, adverse, and notorious.

Which of the following correctly states what Mickey Mouse and Minnie Mouse own?
a. Easement by Prescription
b. Easement by Necessity
c. Merely a License
d. Easement in Gross

18. Same facts as in number 2, above. Assume that after the Court decision; Mickey and Minnie buy back the land that Donald Duck owns, giving them a total of 12 acres of land.

Which of the following correctly states what happens to the easement?
a. Donald Duck retains the right of way to use the driveway because he
never granted those rights to anyone.
b. Mickey and Minnie Mouse retain the easement by necessity that the
Court granted.
c. Mickey and Minnie Mouse retain the easement by prescription that the
Court granted
d. The rights in the easement become part and parcel to the current
ownership of the land through the doctrine of merger.


19. Goofy owns a large lake upon which he likes to go skiing for most of the year. He tends to prefer the cooler fall whether for skiing and doesn’t bother going during the summer. Instead of allowing the lake to sit vacant during the summer months, he decides to begin selling agreements to only twenty of his closest friends. The agreements are in writing and allow the holder of the agreement to use the lake for June, July, and August only. Since Goofy issued the first twenty agreements, their value has skyrocketed. Donald had purchased one of the agreements from Goofy. Daisy has offered to buy Donald’s agreement for $20,000.00.

Is Donald legally allowed to sell to Daisy?
a. No, Donald merely has a revocable license that Goofy could terminate.
b. Yes, Donald has an easement appurtenant that runs with the land.
c. Yes, Donald has an easement in gross that runs with the person.
d. No, Donald has an easement in gross that only runs with the land.

20. Aladdin has been renting a space in an apartment building from Jafar for two months. Aladdin and Jafar entered into a month to month tenancy requiring Aladdin to pay $500.00 per month. After the first two months, Aladdin stopped paying rent, but continued living in the space.

Which of the following is correct?
a. Aladdin is a periodic tenant and Jafar must give notice to terminate.
b. Aladdin is a tenant for years and Jafar must await the end date to sue.
c. Aladdin is a trespasser and must vacate immediately
d. Aladdin is a holdover tenant and Jafar can file for eviction today.

21. Jafar has decided to sue Aladdin for the back rent. Jafar files suit in the municipal court of Agrabah.

Which of the following correctly states the events that follow?

a. After Aladdin receives the complaint, he has 28 days to file an answer.
b. After Aladdin receives the complaint, he has 28 days to file a reply.
c. After Aladdin receives the reply, he has 28 days to file a counterclaim.
d. After Aladdin receives the answer, he must respond in 28 days.
Business
1 answer:
matrenka [14]2 years ago
6 0
#16 is B because I know I’ve had that problem before
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Market research

Explanation:

Market research is the process of finding out about customer wants and needs as well as expanding the current business.

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2 years ago
By the time you retire exactly at age 70 you will have saved $700,000 into your diversified portfolio of mutual funds, bonds, an
saul85 [17]

Answer:

The answer is: $9,625

Explanation:

To calculate this, first we must calculate the future value on the amount invested for 10 years which yields an interest of 6.5% per year.

FV= P + (P × R × T )

where:

FV = Future value

P = Principal = $700,000

R = Interest rate in decimal = 6.5% = 0.065

T = Time = 10 years

Note also that ( P × R × T ) is the formula for simple interest on the invested amount.

∴ FV = 700,000 + ( 700,000 × 0.065 × 10 )

FV = 700,000 + 455,000 = $1,155,000

Next we are told that a withdrawal is made each month, for 10 years, hence to find how much is withdraw each month, let us calculate how many months are in 10 years:

1 year = 12 months

∴ 10 years = 12 × 10 = 120 months

Finally the withdrawal per month is calculated as follows:

Withdrawal per month = Total amount ÷ number of months

= 1,155,000 ÷ 120 = $9,625.

4 0
2 years ago
When preparing a direct materials budget, beginning inventory for raw materials should be added to production needs, and desired
nikitadnepr [17]

Answer:

False

Explanation:

While preparing the raw material budget for the period we calculate the total purchases to be made in the period concerned to meet the demand of raw material.

Demand in the period concerned = Total raw material required in production in current period + Total balance of inventory to be kept as closing inventory of current period - The opening available balance of inventory.

This is equal to the purchases to be made.

Thus, closing inventory is added and opening is deducted.

Therefore, the statement is question is not correct and is therefore, false.

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There are 100 consumers, each of whom values a concert ticket at a unique whole number dollar amount between $1 and $100. One cu
Angelina_Jolie [31]

Answer:

The consumer surplus $3612.5.

Explanation:

There are 100 consumers. They value the concert tickets between $1 to $100. The sale price of the tickets is $15. At this price unlimited tickets are available.

The number of people who will purchase tickets

= 100 - 15

= 85

This is the equilibrium quantity of tickets.

The consumer surplus is the difference between the price that the consumer is willing to pay and what he has to actually pay. It can be found by calculating area between the market price and the demand curve.

Consumer's surplus

= \frac{1}{2} \ \times\ (100-15)\ \times 85

= \frac{1}{2} \ \times\ 85\ \times 85

= $3612.5

=

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