In Order to "Run with the Land," a Restrictive Covenant

question 38

Multiple Choice

In order to "run with the land," a restrictive covenant must essentially:

• A) be related to any disputed property.
• B) have a number of claimants to an estate.
• C) be binding on the original parties and their successors.
• D) be a joint tenancy.

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Definitions:

Agency Agreement

A legal contract creating a fiduciary relationship which empowers an agent to act on behalf of a principal in transactions.

Apparent Agency

A legal concept where a principal is liable for the acts of their agent, based on the appearance of authority the agent has been given, even if no actual authority was given.

Implied Agency

A form of agency relationship created by actions of the parties involved rather than a written agreement, suggesting one party can act on behalf of another.

Express Agency

An agency relationship created by an explicit written or oral agreement between the agent and the principal.