Real Estate Principles Final Exam| 100 Questions| Correct Answers

In a business partnership, if one of the partners dies, the surviving partner: {Ans: Becomes exclusive manager of the partnership business and retains title to the partnership property until he winds up the partnership business}The phrase in a loan contract that specifies "all due and payable upon the happening of a certain event" would be classified as: {Ans: An acceleration clause}Which of the following would not be classified as an institutional lender? {Ans: Mortgage company}An apartment building develops a net income of $15,000. If it were sold at a price based upon a capitalization rate of 8%, the selling price would be: {Ans: $187,500}All California Real Estate Laws are created by: {Ans: Acts of the legislature}All of the following are personal property except: {Ans: Easements}