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level: Level 1

Questions and Answers List

level questions: Level 1

Statute law is also known aslegislation
Which Court is not an Appellate Courtsmall claims court
The type of law that deals with disputes between 2 or more individuals is known as:Private Law
What are two types of "discovery" and may occur in pre-trial process in BC?Examination for Discovery and Discovery of Documents
The prescribed period of time in which a person has a right to bring an action is known as?Limitation Period
Where a civil wrong is committed a person may initiate an action in BC Supreme Court by filing a?Notice of civil claim
"Let the former decision stand"stare decisis refers to the following prior. Decisions when the facts are substantially the same.
The system of law made up of principles and rules of ancient customs and usages of the people of a nation which have been recognized, affirmed or enforced by the courts is know as the:Common Law
The parties to a proceeding in BC Supreme Court can appeal the decision to the?BC Court of Appeal
Small Claim disputes of $_____ or less relating debt or damages, recovery of personal property, personal injury, or specific performance of agreements involving personal partys or services must be submitted to the _______.$5000 or less. Civil Resolution Tribunal
The 3 potential phrases involving in settling a dispute through civil resolution tribunal are:Negotiation, Facilitation and adjudication
The parties to a civil resolution tribunal strata dispute can appeal to the?BC Supreme Court
(law) a judicial remedy issued in order to prohibit a party from doing or continuing to do a certain activityInjunction
The Civil Resolution Tribunal is tasked with resolving all _____ ____ disputes and certain _____ _____ disputes.Strata Corporation, Small Claims
In law, the term _____ denotes the spirit and habits of fairness, justness and right dealing which would regulate interaction between people.Equity
Small Claims courts have the jurisdiction to deal with most claims of:35,000 or less
Performing multiple roles in the same transaction or arranging a mortgage for a borrower and funding the same mortgage as a lender are examples of what when a mortgage broker?conflict of interest
Ethical Codes of Conduct have the same force of law and statutes? True or false.False, most ethical codes of conducts are created by professional associations. Members of those associations must agree to abide by the code of conduct as a condition of membership.
The duty of professional courtesy and good faith is a part of the general duty of the __________Profession
What is the largest voluntary professional organization of mortgage brokers in BC?The Mortgage Broker's Association of BC
The two levels of activity requiring registration under the Mortgage Brokers Act are:Mortgage Broker and Sub Mortgage Broker
The Provincial agency with the authority to administer the Mortgage Broker's Act and Regulation:Financial Institutions Commission
Two types of penalties that a professional organization disciplinary committee could impose on its members?Reprimand, suspension from membership privileges, a monetary fine, paying for the costs of the disciplinary hearing, expulsion from membership, an order for complete disciplinary education.
Only individuals maybe required as submortgage brokers? True or false.True
The Statute that prescribes disclosure to borrowers in the form of a Disclosure Statement, Notice or Statement of Account is known as the?Business Practices and Consumer Protection Act
Ethical Codes of Conduct have the same force of law as Statutes? True or false.False, Ethical codes of conduct are voluntarily adopted by certain members of the public that have to be part of a professional association Members of the public do not have the choice of voluntarily adopting the obligations contained in the Statutes.
A covenant redirecting the use of the land of the coventor (the Serviant tenant) for the benefit of the land belonging to the covenantee (the dominant tenement). An example would be a restricted on the height of a bldg on a piece of land so that the adjacent or adjoining lands are not deprived of a view.restrictive covenant
Historically, one owned this above a parcel of land "to the heavens". Today, it refers to the legal concept that a person who owns lands also owns as much airspace above the land as he or she can effectively use.Airspace
What is a chattel attached to real property; it is anything which has become so attached to the land as to form, in law part of the land.Fixture
A ______ may be enjoyed during the holder's life; however the life estate ends on that person's death. True or false.Life Estate
A life estate ______ _____ ____ is the form of life estate where length of estate is measured against the life of another person.Pur Autre Vie
With respect to real property a __________ is a privilege to enter premises for a certain purpose. This privilege confers upon the licensee a degree of title, interest or estate in such property (eg exclusive right to possession of the property). However it's privilege does not confer upon a licensse any title, interest or estate in such property. Eg include a hotel suite where monthly rates may be available but the innkeeper has the right to enter the suite at his pleasure.License
Articles of personal property (eg car stereo, a tv) as opposed to real property are known as?Chattels
Where two or more persons acquire an interest in a property.joint tenancy
A joint tenancy is where two ore more persons acquire an ________ _____ interest in a property. When one person dies, that person's share automatically goes to the _________ ________Equal undivided and surviving joint tenant(s)
Fee SimpleLegal term for the maximum interest in land available to a person or the maximum of legal ownership. In many ways, ______ _____ is equivalent to absolute ownership.
interests, property, estateA Tenancy in Common is where 2 or more persons acquire ______ in a single ______ and each may sell or bequeath their interest. Additionally, in the event of death, their interest becomes part of their _______.
SupportThe right to have one's ground supported so that it will not cave in when an adjoining property owner makes an excavation is known as?
The dominent tenement limited use of the servient tenement landAn Easement grants what?
Profit a prendreA right to take the produce or part of the soil from the lands of another lands.
Building SchemeA ___ _____ refers to a group of restrictive covenants attaching to two or more lots with in a particular development plan, and which usually aims at ensuring a certain level of uniformity is maintained within a development.
encumbranceA judgement, mortgage or lien or any other claim which is registered against the title to the land is what?
True.True or False. The dominant tenant is the land to which the benefit of a right is attached.
Servient TenementThe land bearing the burden of an easement or other right (ie restrictive covenant).