Match Each Statement with the Correct Term Below

question 16

Multiple Choice

Match each statement with the correct term below.
-settlor

• A)Security interest in land created by a written document.
• B)Transfer of all of a tenant's interest in a leasehold.
• C)Identical goods belonging to different people are so commingled (mixed) that the owners cannot identify their own property.
• D)Person who dies without a valid will.
• E)Temporary transfer of possession of personal property by one party (the bailor) to another (the bailee).
• F)A security interest by possession.
• G)Absolute ownership of real property.
• H)Right of the owner of property to any increase in it.
• I)Co-ownership with the right of survivorship; requires the presence of the four unities.
• J)The right to remove natural resources from the land of another.
• K)Revocable permission to use land of another.
• L)Ownership of real property for an indefinite time or for the life of a person.
• M)The principal method of public control over private land use.
• N)A formal document transferring any type of interest in land.
• O)The acquisition of title to land by open, continuous, and adverse occupancy for a statutorily prescribed period.
• P)The power of a government to take (buy) private land for public use.
• Q)Private restriction on property contained in a conveyance.
• R)Fiduciary relationship in which legal title to property is held by one party for the use, enjoyment, and benefit of another.
• S)A written instrument executed with the formalities required by statute whereby a person makes a disposition of his property to take effect after his death.
• T)The court's supervision of the management and distribution of a decedent's estate.
• U)The person named in the will and appointed by the court to administer the will.
• V)An addition to or revision of a will executed with all the formalities of a will.
• W)Limited right to use another's land in a specific manner.
• X)Document of title issued to a shipper by a carrier.
• Y)Creator of a trust.

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Definitions:

Patience

The capacity to accept or tolerate delay, problems, or suffering without becoming annoyed or anxious.

Transnational Company

A corporation that operates and delivers products or services across national borders.

Multinational Venture

A business operation that involves participants from more than one country, engaging in international business activities.

Centrally Managed

Refers to organizations or systems where decision-making and control are concentrated at the top or central level.