Ganesh and Madonna Own Neighbouring Pieces of Land

question 55

Multiple Choice

Ganesh and Madonna own neighbouring pieces of land.One of those parties owns Blackacre and the other owns Whiteacre.Ganesh has a property interest that allows him to drain his reservoir into Madonna's field once a year and prohibits Madona from erecting any impediment to the drainage ditch.Which of the following statements must be TRUE?

• A)Ganesh probably enjoys the benefit of a restrictive covenant.
• B)Ganesh must have personally paid for the right to drain his reservoir into Madonna's field.
• C)If Whiteacre is the dominant tenement,then it must belong to Madonna.
• D)If Whiteacre is the servient tenement,then it must belong to Madonna.
• E)Madonna has granted a licence to Ganesh.

---

Definitions:

Existing Stock

The shares that are currently issued and outstanding in the market, referring to the stock previously sold to and held by the shareholders.

Long-Term Loan

A long-term loan is a financial obligation with a repayment period exceeding one year, often used for significant investments or purchases.

Working Capital Management

The process of managing short-term assets and liabilities to ensure a company operates efficiently.