Patricia met Joel F. Tamraz in December 1987. At that time, Joel was in the process of purchasing a condominium in Malibu, California, for $220,000. Although Joel initially took title to the property in his name only, before escrow closed he signed a quitclaim deed in which he granted one-third of his separate property interest in the Malibu condominium to Patricia, with title to be held as
tenants in common. Which of the following statements is correct?
A) Joel has created a valid tenancy in common.
B) Because the proper unities are not present, there is no valid tenancy in common.
C) Because the transfer occurred before closing it is invalid.
D) The two are joint tenants with right of survivorship.
A
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Brendan paid $950 to Brazil in foreign income taxes. His total income was $52,500, which included $12,000 of investment income from Brazil. His U.S. tax liability is $8,000. Brendan's foreign tax credit is:
A. $12,000. B. $0. C. $950. D. $1,829.
The set of principles adopted by large advertising agencies to improve preparation and testing of ads is referred to as
A. Positioning Advertising Copy Testing (PACT) B. Principles of Advertising Consumer Testing (PACT) C. Promotional Advertising Content Testing (PACT) D. Post-Advertising Commercial Testing (PACT) E. Pre-Advertising Commercial Testing (PACT)
Which of the following is part of a notice of copyright:
a. the official name of the work b. proof of originality c. the year of first publication d. all of the other specific choices are correct e. none of the other specific choices are correct
Under the sales article of the UCC, which of the following statements is correct?
a. Obligations of the parties to the contract must be performed in good faith. b. Merchants and nonmerchants are treated alike. c. The contract must involve the sale of goods for a price of more than $500. d. None of the provisions of the UCC may be disclaimed by agreement.