Joan Johns leases a commercial property from Steve Smith. What type of estate does Joan hold?
A. Freehold estate
B. Estate in reversion
C. Less-than-freehold estate
D. Life estate
Answer: C. Less-than-freehold estate
Explanation: A lessee holds a leasehold, or less-than-freehold, estate.
Business
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A. Public relations B. Personal selling C. Direct marketing and interactive marketing D. Advertising E. Sales promotion
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A. Government B. Cost C. Managerial D. Not for profit E. Tax
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