In Moran V

question 51

Multiple Choice

In Moran v. Sims, where the house Sims built was surrounded by land owned by Moran, and Sims sued for an easement for access to his house, the courts held that:

• A) an easement cannot be created by fraud
• B) Sims had no right to demand an easement
• C) public policy required Sims to be given an easement so he could get to his house
• D) Sims's use of the driveway since 1985 had been open, notorious and visible
• E) none of the other choices

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Definitions:

Borrowed Reserves

Funds that commercial banks borrow from the central bank, often used to meet reserve requirements or to manage liquidity.

Federal Reserve System

The principal banking organization in the United States tasked with handling monetary policy.

Federal Funds Market

A financial market that allows banks to borrow or lend reserves overnight to meet reserve requirements.

Excess Reserves

Assets retained by banks exceeding the compulsory minimum reserves stipulated by central bank regulations.