Bob Has Inherited a Small Home in Wyoming from His

question 62

Multiple Choice

Bob has inherited a small home in Wyoming from his deceased Uncle George.Bob has no desire to live in Wyoming but he enjoys going up to his Wyoming property to fish for two weeks every fall and spring.George's lawyer has agreed to have the home secured when Bob leaves and to have it opened when he's planning to visit.George's lawyer,without asking or informing Bob,has suggested to his freeloading brother Alan and Alan's wife Judith that they stay at Bob's Wyoming place and simply vacate just before Bob shows up which they do.They live there acting like the owners for forty-eight weeks every year.The statutory period for adverse possession in Wyoming is ten years.After twelve years Alan and Judith file for ownership under Wyoming's adverse possession statute.

• A) Alan and Judith will be successful because they have lived there for over the required ten years
• B) Alan and Judith will be successful because they have lived there for over the required ten years and they were open, notorious and visible
• C) Alan and Judith will not be successful because one cannot become the owners by adverse possession if you are there without the owner's permission
• D) Alan and Judith will not be successful because their control of the property was not exclusive or continuous

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Definitions:

Labor Per Unit

The amount of labor required to produce a single unit of output.

Cumulative Number

A total that increases over time by adding sequential amounts.

Lagrangian Technique

A mathematical method used in economics and engineering to find the maximum or minimum values of a function subject to constraints.

Optimal Capital/Labor Ratio

The most efficient mix of capital and labor that maximizes output or minimizes cost for producing a given level of output.