A purchaser of a house who buys the property "subject to" the mortgage is not personally liable for the mortgage, nor is he a surety for the mortgage obligation
a. True
b. False
Indicate whether the statement is true or false
True
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A corporation had the following stock outstanding when the company's board of directors declared a $75,000 cash dividend in the current year:Preferred stock, $40 par, 6%, 12,500 shares issued$ 500,000Common stock, $10 par, 70,000 shares issued ……………. 700,000Total ………………………………………………………..$1,200,000Allocate the cash dividend between the preferred and common stockholders assuming the preferred stock is noncumulative and nonparticipating.
What will be an ideal response?
Despite the difficulties associated with income distribution studies, when contrasting richer and poorer nations, the data confirm that, generally, income is more evenly distributed in the ______ nations.
Fill in the blank(s) with the appropriate word(s).
Preferred stock is an equity security with preferences
Indicate whether the statement is true or false
A letter of credit in which the issuer is obligated to pay a beneficiary upon presentation of documents indicating a default by the account party in the payment of a debt is:
a. a complying letter of credit. b. a sight letter of credit. c. a confirmed letter of credit. d. a standby letter of credit.