John and Jackson are purchasing a property together and would like to register their title as joint tenants. What is the defining feature that distinguishes this form of ownership?

	The survivor would have the right to buy out the deceased owner's interest.
	The rights of the deceased owner would be inherited by the deceased's heirs.
	The property would be subdivided and each half interest would be sold by auction.
	Each interest is subject to a right of survivorship and the rights of the deceased owner pass to surviving owner.

Frank and Wallace have been neighbours for ten years. Frank arranged to have a new garage constructed in his backyard. He provided the builders with his surveyors certificate, but after completion the garage encroached onto Wallace's land. What is most likely and amicable method of resolving the encroachment?

	an easement agreement
	a lease
	a restrictive covenant
	civil litigation
	removal of the garage

Which of the following is most likely to be indicated by a description that includes among other things, the option to purchase a partner's interest and the valuation of the interests?

	a clause in a partnership agreement that pertains to capital contribution of each partner
	a partnership agreement clause pertaining to dissolution of the partnership
	a clause in a partnership agreement that addresses profit distribution
	a clause in a partnership agreement that avoids litigation and animosity
	a partnership agreement clause pertaining to changes in partnership

Amarilla is willing to contribute capital to her son's new business enterprise. She has asked for qualified assurance of the return of her share capital if the entity winds down its business activities at some future time. Which of the following most likely provides the qualified assurance Amarilla is seeking?

	common shares with redemption rights
	preference shares with redemption rights
	redemption rights distributed among the classes of shares
	shares with preferred rights on dissolution
	shares with financial rights for buyback at a set price