Which of the Following Statements Is TRUE

question 65

Multiple Choice

Which of the following statements is TRUE?

• A) As a general rule, a person who holds a life estate has no obligation to spend money to keep the property in good condition.
• B) True property rights can only be acquired through contract.
• C) A fixed- term tenancy can be terminated only through a notice to quit.
• D) The common law refuses to recognize non- possessory interests in land.
• E) Land cannot be expropriated if it is subject to a fee simple.

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Definitions:

Highest Price

The maximum value that has been paid for a good or service in a particular market or setting.

Market Price

The existing rate at which a product or service is available for purchase or sale in a specific market.

Patent Protection

Legal rights granted to inventors preventing others from making, using, or selling their invention for a limited period.

United States

A country located in North America, consisting of 50 states and a federal district, known for its significant influence on global economy, culture, and politics.