Louie Subdivides His Oceanfront Property with a Boat Ramp and Sells

question 31

Multiple Choice

Louie subdivides his oceanfront property with a boat ramp and sells several parcels that do not reach the ocean,promising all purchasers use of the boat ramp.Bernie buys one of the parcels.His right to enter Louie's property to reach the boat ramp is

• A)an easement by implication.
• B)a profit appurtenant.
• C)an easement by reservation.
• D)a profit in gross.

---

Definitions:

Insider Trading

The unauthorized use of secret information for making profitable trades on the stock market to benefit oneself.

Exemption From Registration

A situation where a party is relieved from the requirement to register information or activities with a governmental or regulatory authority.

Components Assembly Corporation

A business specializing in the process of assembling parts to create finished products, often in the manufacturing sector.

SEC

Stands for the Securities and Exchange Commission, a U.S. government agency responsible for regulating the securities markets and protecting investors.