24.Richie Rich is a wealthy man. out of a charitable his real estate, Blackacre, to...

60.1K

Verified Solution

Question

Accounting

image
24.Richie Rich is a wealthy man. out of a charitable his real estate, Blackacre, to his local church so long as the property charitable spirit, he transfers is used for church purposes". What type of ownership Interest has Richie given the church? a. Fee simple absolute in the church b. Life estate in the church C. Fee simple defeasible in the church, possibility of reversion to Richie d. Tenancy the entirety between Richie and the church 25.Chutian Is a Massachusetts resident who lives in Florida during the winter. In September, he asks his neighbor, Phoebe, if she would allow him to store his automobile in her garage while he is in Florida. Phoebe allows him to store the automobile. For whose benefit is this bailment? a. Sole benefit of bailor b. Sole benefit of bailee c. Mutual benefit of both d. Warehouse bailment since it will last more than four months

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students