Tucker and Hankey Were Adjoining Property Owners

question 8

Essay

Tucker and Hankey were adjoining property owners. Tucker claimed that the fence separating their properties was not located properly and that it should be moved back onto Hankey's land. Hankey claimed that he owned the strip between the fence and the alleged boundary line by adverse possession. He proved that for forty (40) years there had been on the strip in question a barn with a cement floor, which had been built by the person from whom he purchased his land, and that he had been told by the former owner that the fence was the boundary line. The fence consisted of five-foot-high barbed wire set in cement. Did Hankey own the strip by adverse possession?

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Definitions:

Call Provision

A feature in a bond or other fixed-income security that allows the issuer to buy back the security before its maturity date.

Required Return

The minimum expected return by investors for taking on a certain level of risk in an investment.

Imperial Oil

A Canadian petroleum company, focusing on the exploration, production, and sale of oil and gas products.

Selling at a Discount

The act of selling a product or security for less than its nominal or stated value.