Which of the Following Is Most Likely to Be Common

question 163

Multiple Choice

Which of the following is most likely to be common property?

• A) a cat in a house
• B) farm raised catfish in Alabama
• C) tuna in the Pacific Ocean
• D) cattle in a Texas ranch

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Definitions:

Defect Of Title

A legal issue with the deed of a property that makes its ownership status unclear, such as a lien or encumbrance.

Holder In Due Course

A party who has acquired a negotiable instrument legally and is protected against certain defenses set forth by the original parties.

Bill Of Exchange

A written, unconditional order by one party to another, demanding the payment of a specified sum of money.

Bullion

Precious metal in the form of bars or ingots, primarily gold or silver, traded on commodity markets.