Brenna Owns Two Adjacent Lakeside Lots

question 66

Multiple Choice

Brenna owns two adjacent lakeside lots.She sells one lot to Burt and Ernie,with the provisions that they agree not to develop any commercial facilities on the land and to plant a row of rose bushes between the properties.The covenants are registered in the appropriate land title office.Which of the following is true?

• A)If Burt and Ernie do not plant the bushes as agreed,Brenna could sue them for private nuisance.
• B)If Burt and Ernie sell the property,the new owner would not have to plant the row of rose bushes as provided in the original contract.
• C)If Burt and Ernie sell the property,the new owner would have to plant the row of rose bushes as provided in the original contract.
• D)The registration of a covenant guarantees that it is valid interest that runs with the land.
• E)If Burt and Ernie sell their lot to Holly,Holly would not be bound by the covenant to refrain from developing commercial facilities.

Familiarize with the definitions and characteristics of annuities, perpetuities, and amortized debt.

Recognize the relationship between present value, future value, and the discount rate.

Understand the calculations related to present and future values of investments.

Grasp the concept of effective annual rate and its dependence on compounding periods.

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