Which Is True of an Equitable, but Not a Legal

question 29

Multiple Choice

Which is true of an equitable, but not a legal, interest in land?

• A)It is an interest in property that is recognised by equity.
• B)It is an interest in property established by the common law.
• C)It can be protected by a caveat.
• D)It is recorded on the title.

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Definitions:

Common Stock

A type of equity security that represents ownership in a corporation and entitles holders to vote on company matters.

Book Value Per Share

A company's equity available to common shareholders divided by the number of outstanding shares, indicating the value of a company's shares based on its financial statements.

Net Income

The profit of a company after all expenses and taxes have been subtracted from revenue.

Gross Margin Percentage

A financial metric that measures a company's financial health by dividing gross margin by total revenue, expressed as a percentage.