Pedrag Has the Fee Simple in a Piece of Property

question 5

Multiple Choice

Pedrag has the fee simple in a piece of property called Blackacre. Trish acquired a profit a prendre with respect to the annual crop of canola that grows on Blackacre. That interest will last for five years. Which of the following statements is TRUE?

• A) Trish may hold the profit a prendre even if she does not have title to a dominant tenement.
• B) Trish owns the canola crop that grows every year, even before she actually harvests it.
• C) A profit a prendre is a type of mineral lease.
• D) The term "profit a prendre" is derived from words that mean "profit from" (profit a) and "hard work" (prendre) in French.
• E) Trish almost certainly acquired her interest from the Crown, rather than Pedrag.

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Definitions:

Cash Account

An account that reflects the amount of cash a company has on hand or in bank accounts, fundamental to the management of cash flows and liquidity.

Debit Balance

A situation where the debit side of an account exceeds the credit side, commonly observed in asset accounts and expense accounts.

Credited

A term used in accounting to signify an entry that increases liabilities or income, or decreases assets or expenses on the financial statements.

Investing

Investing is the act of allocating resources, usually money, with the expectation of generating an income or profit.