Property Rights Are Well Established for

question 196

Multiple Choice

Property rights are well established for

• A)private goods.
• B)public goods.
• C)common resources.
• D)both (b) and (c).

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Definitions:

Living Will

A document in which a person expresses his or her advance directives.

Holographic Will

A will entirely handwritten, dated, and signed by the testator, which in some jurisdictions, is accepted as valid without being witnessed.

Oral Will

An Oral Will, also known as a nuncupative will, is a will that has been spoken aloud in front of witnesses, rather than written down, valid only in certain jurisdictions.

Settlor

A person who creates a trust.