When a House Is Built on a Lot the House

question 228

Multiple Choice

When a house is built on a lot the house is an example of

• A) a chattel.
• B) a profit a prendre.
• C) a house is not considered property.
• D) real property.
• E) an easement.

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Definitions:

European-Style Option

A contract that gives the holder the right, but not the obligation, to buy or sell an underlying asset at a specified price on the expiration date only.

Expiration Date

The date on which an option, right, or derivative instrument becomes void and the rights under it no longer apply.

Glaxo Stock

Equity shares issued by GlaxoSmithKline, a global healthcare company, representing ownership in the company.

Expiration Date

The date on which an option, right, or obligation becomes invalid or ceases to exist.