business law

QUESTION 17

Earl is struggling financially and is unable to pay his debts. We would say that Earl is:

		In the black
		Trusteed
		Bankrupt
		Insolvent

2 points

QUESTION 18

Diego puts up a fence to keep his neighbor's cattle off his property. After many years, his neighbor dies and his kids inherit the property and want to sell. When the land is surveyed, it is determined that when Diego put up that fence almost 40 years ago, he actually put it about 20 feet onto his neighbor's property. Unfortunately for Diego, he will now have to have the fence work redone.

True

False

2 points

QUESTION 19

A tract of land in Middleville is zoned commercial, but it has been empty land for years. A buyer comes in interested in developing it, but he will only do so if apartments are allowed. Since this area is commercial, he will need a(n):

		Sublease
		Restrictive covenant
		Eminent domain process
		Zoning variance

2 points

QUESTION 20

Parties who obtain goods through fraud acquire:

		Voidable title
		Clean title
		Void title
		Indemnified title

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