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

question 174

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. Suppose that one year after she buys her land, Jill gives her sister Kate the right to use the 3 acres of beach-front property so long as she lives. This is known as:

• A) a fee defeasible
• B) a fee simple
• C) a life estate
• D) a remainder interest
• E) a past interest

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Definitions:

William James

An American philosopher and psychologist regarded as a founder of psychology in the United States, known for his work on pragmatism and the psychology of consciousness.

Physical Component

Aspects of something that are tangible or involve physical attributes or manifestations.

Attitudinal

Pertaining to attitudes, which are psychological tendencies expressed by evaluating a particular entity with some degree of favor or disfavor.

Schachter and Singer

Two psychologists known for their 1962 experiment and theory suggesting that emotions are determined by physiological arousal and cognitive labels.