Reversion Occurs When the Rights of Possession Returns to a Third

question 36

True/False

Reversion occurs when the rights of possession returns to a third party upon the expiration of a limited estate.

---

Definitions:

Debit Card

A payment card that deducts money directly from a consumer's checking account to pay for a purchase, rather than using a credit line.

Store Of Value

An item that people can use to transfer purchasing power from the present to the future.

Store Of Value

An asset that can be saved, retrieved, and exchanged in the future without depreciating in value.

Medium Of Exchange

Anything widely accepted as a tool for payment in the exchange of goods and services.