Abbot Vending Co

question 43

Multiple Choice

Abbot Vending Co.has a license to install vending machines at the Slumber Apartment Complex.Can Abbot transfer this right to Zeno Concession Co.?

• A)Yes,if Zeno provides identical services.
• B)No,since the license is a personal privilege.
• C)Yes,if their agreement gives ownership interest in the property.
• D)No,since it is a possessory estate.

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Definitions:

Co-owners

Individuals or entities that hold ownership rights together in a property or asset, sharing the benefits as well as responsibilities.

Sole Proprietorship

A business structure where a single individual owns and operates the business, making them solely responsible for its debts and liabilities.

Dissolves

The act of officially ending the existence of an entity such as a corporation, partnership, or marriage.

Taxed

Imposed financial charges by a government on income, goods, or activities for public funding.