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Author Question: What is a profit or license? How does a profit or license differ from a covenant? From an easement? ... (Read 65 times)

Engineer

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on: Aug 3, 2018
What is a profit or license? How does a profit or license differ from a covenant? From an easement?
 
  What will be an ideal response?

Question 2

There is a common misconception that individuals and businesses that file for bankruptcy are over-extended, ________ money managers who want to get out of paying their debts.
 
  A) Responsible
  B) Irresponsible
  C) Tired
  D) Spendthrift


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cclemon1

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Reply #1 on: Aug 3, 2018
Answer to Question 1

At common law, a profit was a right to remove items from the soil. Today, profit has been replaced by the license, which is a privilege to use the land for any specific profit making purpose, not limited taking from the soil. Where easements are permanent in that they run with the land, a license is personal and temporary. Subsequent buyers of the license have no assurance that the owner of the property will continue the license.

Answer to Question 2

B


Engineer

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Reply 2 on: Aug 3, 2018
Thanks for the timely response, appreciate it

dreamfighter72

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Reply 3 on: Yesterday
Wow, this really help

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