An owner divides a parcel into several lots, one of which is completely surrounded by other lots and has no street access. Which of the following is true?
A) The municipality must construct a street to create access.
B) The owner must create an easement by condemnation to provide access.
C) An easement by prescription should be granted.
D) An easement by necessity should be created for the landlocked parcel.
Answer: D) An easement by necessity should be created for the landlocked parcel.
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Secured bonds give bondholders the right to take specified assets of the issuer if the issuer fails to pay principal or interest
Indicate whether the statement is true or false
The following are nontax-related characteristics of certain business entities: Unless provided otherwise, all owners have management rights. All owners have limited liability. Formation requires a public filing. A transferee of an owner's financial interest does not become an owner. The entities with the foregoing characteristics are
A. Sole proprietorships and limited liability partnerships. B. General partnerships and limited liability companies. C. Limited liability partnerships and limited liability companies. D. General partnerships and corporations.