Which of the Following Is a True Statement Concerning a Life

question 25

Multiple Choice

Which of the following is a true statement concerning a life estate?

• A) A life estate is an ownership right for the life of the grantor.
• B) A life estate is an ownership right in property for the life of any individual designated by the grantor.
• C) A life estate requires special wording, prescribed by statute, to create it.
• D) None of these.

---

Definitions:

Kinked Demand Curve

A model used in economic theory that suggests prices have a tendency to remain stable because competitors will more likely match price decreases but not price increases.

Opec

The Organization of Petroleum Exporting Countries, an intergovernmental organization of oil-producing countries that coordinates and unifies petroleum policies.

Oligopoly

A market structure characterized by a small number of large firms that have significant control over market prices and competition.

Game-Theory

A mathematical framework used for analyzing situations in which players make strategic decisions that affect the outcomes of all participants.