2025 Business Law Unit 4 Test

The Social Security Act provides this type of insurance.

• fee simple absolute
• social insurance
• right of partition
• casualty insurance

An attribute common to co-ownership

• fee simple absolute
• social insurance
• right of partition
• casualty insurance

The estate with all of the ownership rights

• fee simple absolute
• social insurance
• right of partition
• casualty insurance

The party who gives up temporary possession of the property

• fee simple absolute
• casualty insurance
• bailee
• bailor

Coverage for a variety of specific situations in which the intentional, negligent, or accidental acts of others or mere chance may result in loss

• fee simple absolute
• casualty insurance
• bailee
• bailor

Irrevocable rights to some limited use of another’s land

• eminent domain
• easements
• bailee
• bailor

The power of the government to take private property for public use in exchange for the fair market price

• eminent domain
• easements
• bailee
• bailor

Possessing land with the owner’s permission but without an agreement

• eminent domain
• easements
• constructive trust
• spendthrift trust
• tenancy at will

Protects the beneficiary’s interest in the subject property from the beneficiary’s creditors

• eminent domain
• easements
• constructive trust
• spendthrift trust
• tenancy at will

Requires a person holding property to transfer it to another because retention of the property would be a wrongful and unjust enrichment of the holder

• eminent domain
• easements
• constructive trust
• spendthrift trust
• tenancy at will