His house was derelict - Study guides, Class notes & Summaries

Fungible - Answer- Replaceable 1031 tax deferred exchange - Answer- Under section 1031 of the Irs code, some or all of the realized gain from the exchange of one property for a like kind of property may be deferred. It is not a tax free event; however, in order to accumulate wealth the payment is deferred. Abandonment - Answer- The voluntary and permanent cessation of use or enjoyment with no intention to resume or reclaim one's possession or interest . May pertain to an easement of a pro...

ASVAB Test 57 Questions with Verified Answers Which is not part of the human eye? - CORRECT ANSWER Incus A bank is offering a loan to account holders. If they pay the full amount off in fourteen months, they are charged no interest. Denise needs a $6,500 loan to get a new car. In order for her to avoid the interest charge, how much will she have to pay back each month? - CORRECT ANSWER $464.29 Dave drives an average of 36 miles per day. How many days will it take him to drive 3240 miles...

Peril Something that causes a loss. Hazard Something that increases the probability that a loss will occur. Warranty A policy condition, either based on information in the insureds application or inserted by the insurer. It is a guarantee of a fact. Misrepresentation An untrue statement by the insured, made in an application for insurance but which does not become a part of the policy. Concealment The failure of the insured to reveal relevant facts known to the insured in applying for i...