Reference no: EM132270678
1. The owner of a parcel of land has riparian rights. These rights
a. allow the owner to make use of trees, shrubs, or crops growing on the land.
b. allow the owner to benefit from oil or minerals beneath the land.
c. allow the owner to make use of bodies of water on or streams flowing through the land.
d. allow the owner to make use of fixtures attached to the property.
2. The owner of real property may give possession of the property to another for use as a dwelling or business place. The person who takes possession of the owner’s property is known as a
a. Bailee
b. Tenant
c. Landlord
d. Licensee
3. Any tangible property that is not real property is
a. Bailable property
b. Fixture property
c. Personal property
d. Negotiable property
4. Municipal governments have the right to classify neighborhoods as residential, commercial, or industrial. This practice is known as
a. Easement
b. Conveyance
c. Zoning
d. Domain
5. In a limited partnership, which of these has management rights and obligations?
a. Limited partner
b. Joint partner
c. General partner
d. Silent partner
6. The existence of a corporation is terminated by
a. Liquidation
b. Dissolution
c. Consolidation
d. Distribution
7. The directors of a corporation are neither employees nor agents; rather they occupy a position of trust. This trust relation is legally described as that of a
a. Incorporator
b. Consolidator
c. Fiduciary
d. Principal