Fact Pattern 8-1 Jill Recently Inherited Money from Her Old Aunt Maude. Jill

question 68

Multiple Choice

Fact Pattern 8-1
Jill recently inherited money from her old aunt Maude. Jill decided to buy beach-front property in Beaufort, South Carolina. Jill's new property consists of 3 acres of land, with direct access to the ocean. When she bought the land there is no home on it, but she wants to build a beach home in the future. A year after she bought the lovely lot, the city of Beaufort rezones the land, prohibiting any building so that other residents can enjoy the view.
-Refer to Fact Pattern 8-1. When Jill purchases the beach-front land, the ownership rights in this land will be transferred to her in:

• A) a covenant
• B) an easement
• C) a deed
• D) a suretyship
• E) a remainder

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Definitions:

Trade Restrictions

Regulations and policies that governments enact to control the free trade and exchange of goods and services across borders.

Import Quota

A restriction enforced by the government on the volume or price of merchandise that may be imported into a country.

Tariff

A tariff is a tax imposed by a government on imported or exported goods to regulate trade, often to protect domestic industries.

Free Trade

An economic policy that allows imports and exports between countries with minimal governmental restrictions or tariffs.