You and Your Friend Recently Bought a Duplex

question 104

Multiple Choice

You and your friend recently bought a duplex. You rent out the downstairs and live in the upstairs suite. As the owner and occupier, you have acquired certain rights and responsibilities. Which of the following statements about the law relating to land is true?

• A) You could sue for the tort of negligence if someone used his property in such a way that it interfered with your use and enjoyment of your property.
• B) The use of your property is partly governed by the Personal Property Securities Act.
• C) If you bring something onto your property that is inherently dangerous and it escapes causing damage to others, you will be liable even if you were very careful and did not intend to harm anyone.
• D) If there were an accident out front and a car was knocked onto your yard, you could sue the driver in that car for trespass.
• E) Your tenants have no duty to take reasonable steps to make sure that any person is reasonably safe when in their suite.

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Definitions:

Equilibrium World Price

The price at which the supply of a good on the global market equals the demand for that good.

Two-Nation Model

An economic model used in international trade theory to analyze the effects of trade between two countries, considering factors like comparative advantage.

World Price

The international market price at which goods and services are traded between countries.

Domestic Price

The price of goods or services within a particular country, influenced by domestic supply and demand, taxation, and other economic factors.