Four Unities Are Required for the Creation of Joint Tenancy

question 24

Multiple Choice

Four unities are required for the creation of joint tenancy. They are time, possession, interest, and

• A) consideration.
• B) competent parties.
• C) title.
• D) legal purpose.

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Definitions:

Force Majeure Clause

A contract term anticipating some catastrophic event usually exempting liability when such an event interferes with performance of the contract.

Catastrophic Event

An unexpected, large-scale disaster that causes significant -physical, economical or environmental damage or loss of life.

Condition Subsequent

A contract condition that, when it occurs, ends the party's obligation to perform under the contract.

Unilateral Release

A legal agreement where one party agrees to waive its rights or claims against another party without requiring any action or concession in return.