Green Owned a Cottage Lot Which Had Frontage on a Lake

question 4

Multiple Choice

Green owned a cottage lot which had frontage on a lake. He later granted a 5-metre wide right of way to Brown who owned a lot behind Green's property, to enable Brown to reach the lake to launch his power boat. The following year, Brown built a boathouse on the 5-metre wide strip in which to store his boat in the winter months. When Green discovered the boathouse a few months later, he wrote to Brown and requested that it be removed. When Brown refused, Green hired a bulldozer and pushed the boathouse off the land and into the lake. Which of the following statements are not true?

• A) Brown was not entitled to build a boathouse on the right of way.
• B) Instead of removing the boathouse personally, Green was obliged to have taken legal action against Brown, as Brown had an interest in the lands.
• C) Green is the owner of the land subject only to Brown's right of way on the 5-metre strip of property.
• D) Brown is liable to Green for the cost of removal of the boathouse.
• E) All of the responses are true.

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Definitions:

Holding-Period Return

The overall return earned from owning an asset or a collection of assets over a specified duration, often represented as a percentage.

Dividend

Funds distributed by a corporation to its shareholders, typically from the company's earnings.

Arithmetic Average

The sum of a set of numbers divided by the count of that set of numbers, commonly used to compute simple averages.

Historical Annual Average

An average value calculated from a series of yearly figures, often used in financial analysis to smooth out fluctuations.