Mary Owns a Farm

question 39

Multiple Choice

Mary owns a farm. She has the right to use it for any legal purpose but must grow a certain quantity of wheat on it every year. If she fails to grow this quantity of wheat, her right to that land terminates. Which of the following interests in real property does Mary have?

• A) easement
• B) conditional estate
• C) life estate
• D) fee simple absolute

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Definitions:

Crude Oil

A naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials.

Tractors

Agricultural machinery designed for plowing, tilling, and performing other tasks on farms to facilitate crop production.

Gain From Trade

The increase in utility or benefit that entities receive from trading goods or services with each other, often as a result of specialization and efficiency.

Barrels

A unit of measure for oil and other petroleum products, equal to 42 US gallons.