Restrictive covenant - Study guides, Class notes & Summaries

BUS 263 Test 2 | Complete Solutions (Verified) Fred agrees to assume a debt owed by Guitars Inc. to Home Bank. The agreement is not in writing. To be enforceable under the "main purpose" rule, the promise must be for the benefit of a. Home Bank. b. Fred. c. any third party, such as a Guitars Inc. customer. d. Guitars Inc. Duane and Evan orally agree to a transfer of forty acres of farmland. Evan asks Finance Bank to lend him the funds to buy the land. Under the Statute of Frauds, the agreeme...

Absolute Immunity A policy of protecting public officials from tort liability (Chapter 10) A High-level executive officer cannot be held liable for his or her discretionary acts or ormissions. (Chapter 11) Abuse of Process The improper use of various litigation devices. The Elements of this tort are: 1) an ulterior purpose; and 2) a willful act in the use of the process not proper in the regular conduct of the prceddings. (Chapter 10) Abut Two parcels of land that physically tou...

REE 3043 EXAM 1 QUESTIONS WITH REVISED ANSWERS The Rushing River Ranch is running out of room for their livestock. They ask the property owner adjacent to their land if they can lease 1000 acres for the next ten years. Upon signing the lease, Rushing River Ranch erects 40,000 feet of fence on the property to contain their livestock. At the end of the lease, Rushing River Ranch decides not to renew the lease. According to the four rules for fixtures, who owns the fence and why? - Answer-- The R...

Lease - ANSWERExclusive right to occupy Mortgage - ANSWERproperty as security for a debt Easement - ANSWERThe right to use in some way Restrictive covenant - ANSWERa covenant imposing a restriction on the use of land so that the value and enjoyment of adjoining land will be preserved. License - ANSWERContractual right to use in some way Lien - ANSWERa right to keep possession of property belonging to another person until a debt owed by that person is discharged. Ex. Mechanic fixes...

Humber Real Estate - Course 2, Module 3, Understanding Residential Property Types, Ownership and Planning Graded A Define a 'Dwelling Unit' A self-contained housing unit with one or more habitable rooms containing at minimum a kitchen, bathroom facilities and an exit from the building. What is the difference between a semi-detached structure and a vertically divided duplex? - A duplex is under single ownership (under 1 title) ... the dwelling units can then be lived in or rented out - The 2 d...

Chapter 1 - Loans Which is not correct regarding the reserve amount? A) the amount of money the Federal Reserve requires lenders to hold in reserve B) reserve amounts may be used by the lender C) reserves must remain in a special account D) reserves are regulated by the Federal Reserve - B) reserve amounts may be used by the lender Feedback: Correct: The reserve account helps keep the economy stable by controlling the money supply. Bob noticed that there was a lien recorded against his ...

A Habendum Clause - ANSWER "To have and to hold for the life of the guarantee" The disposition stage - ANSWER The stage of land development when utilities are installed, parks are constructed, marketing programs are initiated, and title to individual parcels is transferred as lots are sold for construction What purpose does a REIT use funds from investors? - ANSWER To purchase both real estate and mortgages The effective term of a deed restriction may be extended with the consent o...

Examination for Missouri Insurance Producer's License Questions and Answers 100% accurate! Abstract of Title - ANSWERA summary of public records relating to the title to a particular tract of land. Acknowledgement - ANSWERA formal declaration before a duly authorized officer (usually a notary public) by a person who has executed an instrument that such execution is his own act and deed. An acknowledgement is necessary to entitle some instruments to be recorded, to impart constructive no...

NC Superior Real Estate School - Chapter 5 Exam Chapter 5 Vocabulary: Land Use Controls -Answer-Chapter 5 Vocabulary: Land Use Controls Amendment -Answer-A change or modification of a zoning ordinance by the local legislative authority Building Codes -Answer-Public controls regulating conduction that establish minimum construction standards. Most structures require building permit Building inspectors certified by NCDI (department of insurance) Statewide codes enforced locally Issue cert...

Basic Contract Law for Paralegals Chapters 1-8 Exam Questions and Answers 2024 Legality -Answer-The condition of conformity with the law; lawfulness. Usury -Answer-Charging a rate of interest that exceeds the rate permitted by law. Surrogacy Contract -Answer-A situation where a woman who "hosts" the fertilized egg of another woman in her womb or who is artificially inseminated with the sperm of a man who is in a relationship with someone else agrees to assign her parental rights to the ...