Ian and Jackie Take Title to a Drive-Through Koffee Kiosk

question 36

Multiple Choice

Ian and Jackie take title to a drive-through Koffee Kiosk in such a way that if one dies,the other will be the sole owner.Ian and Jackie own the kiosk as

• A)co-owners in fee simple.
• B)joint tenants.
• C)tenants by the entirety.
• D)tenants in common.

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Definitions:

External Costs

Costs of an economic activity that are not borne by the participants in the activity but are imposed on others, such as pollution.

Competitive Free Market

A market structure where many firms offer products or services that are similar, allowing for free entry and exit, with prices determined by supply and demand forces.

Marginal External Cost

The cost imposed on a third party not involved in a transaction or activity due to an additional unit of production.

Methane Gas

A potent greenhouse gas with a simple chemical formula CH4, commonly produced by the decomposition of organic materials and digestive processes of animals.