Which of the following is NOT a form of perpetuity?
A) A British consol bond
B) Preferred stock that pays the same dividend forever
C) A philanthropic endowment fund that pays the same charitable amount every year forever
D) All are examples of perpetuities.
Answer: D
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You have been having significant problems with your new car. Every time you turn around something is breaking or not working properly. Fortunately, the "lemon laws" are there to help
Which of the following is not one of the criteria for application of the lemon laws? A) You have made at least four attempts to solve the problem. B) Your car has been out of service for at least 30 days during the first year after purchase. C) You have under 12,000 miles on the car. D) You must return the vehicle to the original dealership.