Who Is Most Likely to Lose as a Result on Unanticipated

question 40

Multiple Choice

Who is most likely to lose as a result on unanticipated inflation?

• A) Margaret who receives Social Security.
• B) James, who borrowed $2,000 from Jack.
• C) Jack who loaned James $2,000.
• D) Jennifer who has signed a contract with her employer that includes a cost of living adjustment clause.

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Definitions:

Profit À Prendre

is a legal term denoting the right to take something from another's land, such as natural resources, for use or sale.

Dominant Property

The property that benefits from an easement, which is a right to cross or otherwise use someone else's land for a specified purpose.

Trade Fixtures

Items of personal property brought upon the land by a tenant that are necessary to carry on the trade or business to which the premises will be devoted. Contrary to the general rule, trade fixtures remain the personal property of the tenant and are removable at the expiration of the terms of occupancy.

Quitclaim Deed

A deed that transfers to the buyer only the interest that the seller may have in a property and that contains no warranties.