Final answer:
Ticket holders for Terrell's one-time sporting event receive a license to enter the property, which is a temporary permission to use the property and not a lease, ownership, or easement.
Step-by-step explanation:
When Terrell sells a ticket for a sporting event on his property, each ticket holder receives B) A license to enter the property. This ticket acts as a temporary permission for the holder to enter Terrell's property and enjoy the event. This license is different from a lease agreement because it does not grant exclusive possession of the property to the ticket holder. Nor does it give any ownership rights or an easement; those rights would grant longer-term or permanent use.
Property rights allow individuals or firms who own property to enter into contracts, which may include giving others the right to use their property temporarily. An important example of providing temporary rights can be seen with online services like Airbnb or ride-sharing companies. These businesses operate based on granting temporary licenses to use property or services.
Easements are also related to property rights but are for specific uses, like utility lines or public conservation efforts – which is not applicable to this scenario of a one-time event. The principles of contractual rights based on property rights ensure that both parties have legal recourse if agreements are not honored.