Langdon Leases His Hayfield to Tom for a Period of Ten

question 17

Multiple Choice

Langdon leases his hayfield to Tom for a period of ten years. What interest does Langdon have in the land?

• A) A vested remainder.
• B) A reversion.
• C) A private easement.
• D) A possibility of reverter.

---

Definitions:

Basic Elements

The fundamental components or principles that form the essential parts of a whole.

Loan

Borrowed money that is expected to be paid back with interest.

Business Partnerships

A legitimate business setup where two or more persons share both the handling of the business and the financial gains.

Sample Business Plan

A document that provides an example or template of a business plan layout, including company description, market analysis, and financial projections.