Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 7 ( 1 point ) Camden owns a fifteen ( 1 5 ) acre tract of land in Boulder, Colorado where he visits often
Question point
Camden owns a fifteen acre tract of land in Boulder, Colorado where he visits often during college breaks and holidays. In order to pay for his remaining college education, he offers to sell the mineral rights under his land to Ryder. Ryder, believing the land contains a large amount of silver deposits, accepts the offer and completes the sale. Isaiah, who already has an established silver mining operation in Colorado, offers to buy the mineral rights from Ryder for a considerable profit. Is it permissible for Ryder to sell the mineral rights under Camden's land to Isaiah?
No Ryder may not sell the rights under any circumstance.
Yes, Ryder may sell the rights without consulting Camden.
Yes, Ryder may sell the rights only if Camden agrees.
No Ryder may not sell the rights unless he gives Camden a percentage of the sale proceeds.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started