On May 1, 2010, Cynthia Hendrix bought her home and First Bank recorded its mortgage. On June 24, 2012, Cynthia sold her home to Stanton Gulbrandsen for $250,000. At that time, Cynthia's mortgage was $225,000. Stanton assumed Cynthia's mortgage and gave Second Bank a second mortgage for $225,000. Second Bank did not record its mortgage. On October 12, 2014, Stanton sold the home to Derek Bolger
for $275,000. Bolger took the property subject to the previous mortgages and executed a $275,000 mortgage to Third Bank. Third Bank recorded its mortgage on October 18, 2014. Third Bank knew of the Second Bank mortgage. ?Who is liable on the Third Bank mortgage?
A)?Cynthia
B)?Stanton
C)?Derek
D)?Both b and c
C
You might also like to view...
When asking questions in a request message,
A) begin with the least important question and work your way up to the most important. B) avoid any open-ended questions. C) begin with the most important question. D) weave your questions into the rest of the content of your message. E) combine all related issues into one question.
Rugman and D'Cruz have developed an alternative framework to Porter's five forces model. The framework, based on business networks, is called:
A) the differentiation model. B) strategic intent. C) the flagship model. D) the hypercompetition model. E) the Rugman & D'Cruz model.
Which of the following is not one of the characteristics of Fair Trade as stated by the Fairtrade Labeling Organization?
a. Based on dialogue, transparency, and respect b. Offering better trading conditions to, and securing the rights of, marginalized producers and workers c. Campaigning for changes in the rules and practice of conventional international d. A zero-sum game
The procurement process for indirect materials should focus on decreasing the transaction cost for each order
Indicate whether the statement is true or false.