Jane Wyman is a real estate agent who is the listing agent for Tom and Mary Arnold's home. Jane has a buyer who is interested in purchasing the Arnold house, but the buyer has a spotty credit history. Jane thinks the buyer has turned the corner on past problems and will be a good buyer for the property. Jane does not disclose the buyer's spotty credit history and Tom and Mary sign a contract for
the sale of their home. As the buyer tries to get qualified, Tom and Mary pass up several other offers. Jane:
A) Has breached her fiduciary duty to the sellers by withholding material information.
B) Represents the buyer and not the seller so she has done nothing wrong.
C) Need not disclose a spotty credit history unless Tom and Mary ask.
D) Cannot be held accountable for a buyer's failure to qualify for a mortgage loan.
A
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Which of the following is true of the right of a widow on a life estate?
A. The widow gets a one-third interest in fee simple in the real and personal property owned by her husband at the time of his death. B. The widow has the right to a life estate in half of the lands owned by her husband during their marriage. C. The widow has the right to a life estate in two-thirds of the lands owned by her husband at the time of his death. D. The widow gets a one-third interest in fee simple, only in the real property owned by the testator during their marriage.
The collection of interest revenue will be depicted on the statement of cash flows as a:
A) cash inflow from an operating activity. B) cash inflow from an investing activity. C) cash outflow for a financing activity. D) cash inflow from a financing activity.
Which of the following statements is CORRECT?
A. If two projects are mutually exclusive, then they are likely to have multiple IRRs. B. If a project is independent, then it cannot have multiple IRRs. C. Multiple IRRs can occur only if the signs of the cash flows change more than once. D. If a project has two IRRs, then the smaller one is the one that is most relevant, and it should be accepted and relied upon. E. For a project to have more than one IRR, then both IRRs must be greater than the cost of capital.
Glenna has been charged with arson of a storage building. The prosecutor must prove Glenna's guilt:
a. by a preponderance of the evidence. b. by the greater weight of the evidence. c. beyond a reasonable doubt. d. beyond shadow of a doubt.