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Schach [20]
3 years ago
6

Thirty years ago, the original owner of Greenacre, a lot contiguous to Blueacre, in fee simple, executed and delivered to his ne

ighbor an instrument in writing which was denominated "Deed of Conveyance." In pertinent part it read, "[The owner] does grant to [the neighbor] and her heirs and assigns a right-of-way for egress and ingress to Blueacre." If the quoted provision was sufficient to create an interest in land, the instrument met all other requirements for a valid grant. The neighbor held record title in fee simple to Blueacre, which adjoined Greenacre. Twelve years ago the owner's son succeeded to the original owner's title in fee simple in Greenacre and seven years ago the neighbor's daughter succeeded to the neighbor's title in fee simple to Blueacre by a deed which made no mention of a right-of-way or driveway. At the time the neighbor's daughter took title, there existed a driveway across Greenacre which showed evidence that it had been used regularly to travel between the main road and Blueacre. Blueacre did have frontage on a side road, but this means of access was seldom used because it was not as convenient to the dwelling situated on Blueacre as was the main road. The driveway originally was established by the neighbor. The neighbor's daughter has regularly used the driveway since acquiring title. The period of time required to acquire rights by prescription in the jurisdiction is ten years. Six months ago the son notified the neighbor's daughter that the son planned to develop a portion of Greenacre as a residential subdivision and that the daughter should cease any use of the driveway. After some negotiations, the son offered to permit the daughter to construct another driveway to connect with the streets of the proposed subdivision. The daughter declined this offer on the ground that travel from Blueacre to the main road would be more circuitous. The neighbor's daughter brought an appropriate action against the son to obtain a definitive adjudication of the respective rights of the daughter and the son. In such lawsuit the son relied upon the defense that the location of the easement created by the grant from the original owner to the neighbor was governed by reasonableness and that the son's proposed solution was reasonable.
The son's defense should:____________
Business
1 answer:
sineoko [7]3 years ago
7 0

Answer: Son's argument should fail

Explanation:

The son's defense will fail because the location of the easement is not governed by reasonableness as it had been established at its current location by the neighbor.

It can not now be changed arbitrarily by the son because the original owner had allowed it to be built. The easement's location is therefore established by actions between the original owner and the neighbor and so it is a binding location.  

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Turnbull Co. is considering a project that requires an initial investment of $270,000. The firm will raise the $270,000 in capit
svp [43]

Answer:

WACC = 11.45 %

Explanation:

Weighted average cost of capital is the average cost of all of the long-term types of finance used by a company weighted according to the that amount of finance used in relation to the total pool of fund

WACC = (Wd×Kd) + (We×Ke) + (Wp × Kp)

After-tax cost of debt = Before tax cost of debt× (1-tax rate)

Kd-After-tax cost of debt = 11.1%(1-0.4) =6.66%

Ke-Cost of equity = 14.7%

Kp= Cost of preferred stock = 12.2%

Wd-Weight of debt =100/270=0.370

We-Weight of equity = 140/270=0.518

Wp= weight of preferred stock = 30/270=0.111

WACC = (0.518× 14.7%) + (0.370 × 6.7%) + (0.111×12.2) =  11.447%

WACC = 11.45 %

6 0
3 years ago
On January 2, 2019, Adelphi Company purchased a patent for $235,000 plus
Ymorist [56]

Answer:

The annual amortization expense for 2019 will be $35000.

Explanation:

The amortization expense for the patent calculated based on the useful life of patent. The purchase of value of $235000 plus $10000 gives the total value of $245000 while use the patent of 7 years.

The formula for amortization expense = (Cost of patent - Residual value ) / Useful life of patent)

amortization expense = ($245000-0)/7 = $35000

The legal life would not count due patent in business use for limited life compare to legal life of patent.

4 0
3 years ago
If the signaling theory of education is correct;
Snezhnost [94]

Answer:

C. workers with more years of formal schooling are less likely to be affected by ability, effort, and chance.

Explanation:

The <em>signalling theory in education</em> tells us that employees send "signals" to their employees regarding their education. In other words, employers are willing to pay higher wages to employees with additional years of formal schooling.

This means these qualified workers have their wage primarily defined by their education level, which does not always reflect their true skill-set (the output of ability and effort).

5 0
3 years ago
The existing balance in Allowance for Doubtful Accounts is considered in computing bad debts expense in the A. direct write-off
AlexFokin [52]

The correct answer is choice b - the percentage of receivables basis.

When an accountant is calculating the bad debts expense they will take into account the balance in the Allowance for Doubtful Account when they are calculating on the percentage of sales basis.

8 0
3 years ago
Which of the following statements about the consumption component of GDP is not​ correct?
Assoli18 [71]

Answer:

D. Spending on services is smaller than the amount of consumption spending on durable and nondurable goods.

Explanation:

For developed countries like the U.S, there is a lot of stress in consumption of services such as good health care, appropriate and quality education and among others. These services contribute to a larger proportion of consumption component of GDP than both durable and nondurable commodities. Therefore, the statement “spending on services is smaller than the amount of consumption spending on durable and non-durable goods” is not correct

3 0
3 years ago
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