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Chris M.
Chris M., M.S.W. Social Work
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1. Legally, property other than land, including both tangible

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1. Legally, property other than land, including both tangible property and intangible property, is considered __________ property. (Points: 5)
real
personal
intangible
transient


2. __________ is the right of an owner of property such as plants or animals to increase in the property. The owner of a cow, for example, owns the calves born to the cow. (Points: 5)
Statutory right
Accession
Legal right
Anticipation


3. Ownership is held in __________ when all the rights of ownership in a particular piece of property are held by one person. (Points: 5)
severalty
solitary
defiance
accession


4. When two or more persons own equal shares of a property then it is called: (Points: 5)
severalty.
co-ownership.
joint tenancy.
multiparty.


5. The owner of a freehold estate who holds the estate absolutely is said to hold it in: (Points: 5)
accession.
easements.
life estates.
fee simple.


6. In a property, a person who holds a freehold estate only for his or her lifetime is said to hold a(n) __________ in the property. (Points: 5)
accession
precession
life estate
benefit


7. An agreement reached between a bailor and a bailee is a: (Points: 5)
mortgage.
bailout.
bailment.
codicil.


8. An agreement in which a suitcase is left with a railroad station checkroom is a: (Points: 5)
bailment for the sole benefit of the bailee.
bailment for the sole benefit of the bailor.
mutual-benefit bailment.
constructive bailment.


9. A guest whose stay is relatively uncertain is known as a: (Points: 5)
traveler.
customer.
transient.
temporary.


10. An individual or firm in the business of transporting goods between certain points as allowed by the various state commissions that regulate the carriers is known as a __________ carrier. (Points: 5)
business
government
public
common


11. The law requires that a common carrier must accept all shipments that it is authorized to: (Points: 5)
purchase.
handle.
hypothecate.
pledge.


12. A possession interest in which the lease continues for successive periods for the same length of time—weekly, monthly, or annually—and is automatically renewed at the end of the period is a: (Points: 5)
periodic tenancy.
tenancy for years.
tenancy at will.
tenancy at sufferance.


13. A landlord's promise that the premises have no defects that would impair the health, safety, or wellbeing of the occupants is an implied warranty of: (Points: 5)
merchantability.
habitability.
safety.
title.


14. The landlord has the right to collect the agreed-upon rent as provided in the: (Points: 5)
sale deed.
quitclaim deed.
hire purchase deed.
lease agreement.


15. When tenants transfer their entire interest in property for the remaining term of a lease it is a(n): (Points: 5)
leasehold.
sublease.
eviction.
assignment.


16. A person who makes a will is known as a(n): (Points: 5)
testator.
administrator.
executor.
trustee.


17. If the personal representative has been named in the will, he or she is known as the: (Points: 5)
executor.
administrator.
testator.
legacy.


18. A formal printed will must be signed by the testator and: (Points: 5)
executed.
scripted.
witnessed.
supplemented.


19. A living trust is also known as a(n) __________ trust. (Points: 5)
testamentary
contemporary
inter vivos
constructive


20. The responsibility of the trustee is that of a(n): (Points: 5)
fiduciary.
probationary.
stationary.
exemplary.
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