1.It is understood that most vegetation stays with a real property when sold. Which type of vegetation needs to be mentioned in a contract and have its ownership determined in writing upon the sale of a real property?

Group of answer choices

hanging annual plants on a hook

decorative trees

Crops

bushes near the base of a house

2.Mineral rights are considered:

Group of answer choices

An intangible personal property

A good

Real property or ownership interest in real estate

Appreciative assets

3.Real property is:

Group of answer choices

Mineral rights, easements, and dump trucks

Crops, fields, and Christmas trees

Storage pods, swing sets, and potted plants

Land, anything permanently attached to the land, and/or an interest in land

4.All types of real estate owners must pay property taxes to the states that require a property tax on real estate or:

Group of answer choices

do community service to pay off the debt

pay the same amount to a local charity

acknowledge that the government is the actual owner and sign the title over to it.

a levy or lien can be put on the property, with only rare petitioners being granted relief of the liens or levies.

5.An ownership arrangement that when more than one of the owners of a property dies, the ownership interest of the deceased passes straight to the deceased's heirs. This is:

Group of answer choices

Tenants in common

Tenants in entirety

Tenants in a leasehold

Testarix in common

6._______ is when a owner of real property has the right to possess the property forever, may sell the property, lease the property, or dispose of the property if he or she so wishes and stays current on their property taxes.

Group of answer choices

Tenants in entirety

Fee simple

Long term deed

Heirloom estate

7.The _____ is responsible to pay principal, interest, taxes, insurance, and not to impair the mortgaged property.

Group of answer choices

mortgagee

mortgagor

tenant

testatrix

8.A _______ warrants that the grantor has good title to real property and that the grantee shall have quiet and peaceable possession of the property.

Group of answer choices

special warranty deed

quit claim deed

nuncupative deeds

general warranty deed

9._____ is rare.It is when someone can obtain title to land or real estate by occupying it for a specified period of time.

Group of answer choices

Adverse possession

Boundary confusion

accretion

vegetation possession

10.If the arbitration is ______ either party can reject the conclusion, reduce it to an agreement, or reject it and go straight to trial.

Group of answer choices

tribunal

mediation

non-binding

non sequitur

11.________ is less costly than litigation, typically less time consuming, and more of a structured negotiation.

Group of answer choices

Arbiter Elegantiarum

Side bar counsel

Panem et circenses

Mediation

12.___________ is a very formal, adversarial, expensive, time consuming, legal process.

Group of answer choices

Mediation

Alternative Dispute Resolution

Litigation

Bargaining

13.A _______________ assures a buyer that an item can be used as expected and will last for a certain amount of time.

Group of answer choices

future's contract

timing clause

warranty

the pull of an option

14.Most forms of intangible personal property are regulated by

Group of answer choices

By private self-regulating organizations such as Financial Accounting Standards Board

Government agencies such as the Federal Transit Commission, Drug Enforcement Agency, and U.S. Immigration and Customs Enforcement

Government agencies such as United States Immigration and Citizenship Services and Immigration and Naturalization Services

Government agencies such as the Security and Exchange Commission and the Commodity, Futures, and Trading Commission.

15.Geppetto borrows a special wood working tool from his neighbor for no charge. This is an example of a ___________.

Group of answer choices

A bailment that solely benefits the court system.

A bailment that solely benefits the bailee

A mutually beneficial bailment.

A co-dependent relationship

16.The following would be examples of bailees:__________________.

Group of answer choices

A player, a UPS truck, and a tuxedo shop

Circus performers, bounty jumpers, and pet store owners

Shipping companies, banks, and pawn shops

A tour guide, a drug dealer, a bookie

17.Holders in due course obtain rights superior to the original owner when ____________.

Group of answer choices

a negotiable instrument is negotiated (transferred) to one or more of the parties possible on the instrument.

they cross state boundaries

certiorari is granted

the instrument arrives at the clearing house

18.Negotiation is made on ____________________.

Group of answer choices

delivery

watermarked paper

a level playing field

the completion of the seal

19.Negotiable instruments require _______.

Group of answer choices

a warning to the drawer be written on every instrument

a flexible promise to pay

an unconditional order to promise to pay

a signature from the bank manager

20.Forgery is almost always a ______.

Group of answer choices

provable crime

a misdemeanor

a mitigating circumstance

a felony

21.A wild cat rehabilitation center is _________ for any harm that may be caused by their wild cats if they were to escape the very secure facility.

Group of answer choices

actus mensa

fiduciarily liable

mens rea

strictly liable

22.In order to prove an entity has secondary liability one must show _____.

Group of answer choices

the one who committed the tort was representing the entity with a duty

the entity represents good faith

there was an implied contract to pay

a second cause of harm

23.In a sole proprietorship profits are directly the sole proprietor's income ___________________.

Group of answer choices

and can be deducted like a mortgage

and are taxed twice by the government

and are taxed as the sole proprietor's incomes

and comingled funds

24.A non-profit corporation does:

Group of answer choices

not pay corporate income tax

pay corporate income tax.

not pay employees a salary, but gives them a volunteer tax deduction slip

not operate outside of its state boundaries due to regulations

25.Partnerships must ____________.

Group of answer choices

be two or more people, started voluntarily, and obey all of the laws pertaining to them.

originate in the state of the wealthiest partner for IRS purposes

have at least one silent partner

have at least one nominal partner

26.A promoter is typically the one who organizes a corporation and ____________________.

Group of answer choices

decides how much initial stock to issue, files with the SEC, and state officials

is its very first customer

regulates the corporation after its formation

plays devil's advocate in board meetings

27.Which of the following is NOT a criminal law penalty classification:

Group of answer choices

Punitive damages

Misdemeanor

Felony

Infraction

28.The universal function of the court system is to ____________________________.

Group of answer choices

Determine which laws are worth enforcing for the public good

Interpret and apply the law

Create laws

Monitor public debate over laws

29.Federal statutes take_____________________ state statutes if there is a conflict between the two laws.

Group of answer choices

Precedence over

Equity with

A secondary position to

Longer to enforce compared to

30.In order to prove a tortfeasor is guilty of an intentional tort, the plaintiff must prove the following three things ________.

Group of answer choices

There was an act, an intention to cause the consequences of the act, and causation

There is fault, intention to cause the act, and probable cause

Mens rea, actus reus, and tortus reus

There is a guilty act, intention with consequences, and a preponderance of evidence

31.Essentially the three different types of torts are ____________________________________.

Group of answer choices

Defamation of Character, Trespassing, Infliction of mental distress

Strict Liability, Extortion, Wrongful Touching

Intentional, Negligence, and Strict Liability

Trespassing, Negligence, and Wrongful Acts

32.________ is something of value exchanged between two or more parties in a contract.

Group of answer choices

Currency rate

Mutual understanding

Consideration

Dignity