William and Joann Lieberman purchased a house with both of their names on the deed. However, the note and the mortgage for the purchase of the house had only William Lieberman's name. Following a divorce action, the lender sought to foreclose on the property. Joann Lieberman objected
?The court held that the lender could foreclose only on the husband's interest in the property and not the wife's because she was not a party to the debt. A valid mortgage requires an underlying debt and the signature of the party to be bound and in order to have the mortgage against the full property.
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Devon, a senior at Central High School, participates in a social media forum on which he posts destructive, bullying lies about Beau, a fellow student. Beau's parent complains to Central officials. Under the First Amendment, Central can most likely
a. punish Devon for the posts. b. transfer Beau to a different school. c. require that all students' future posts be made on the school's public Web site. d. post an official note calling Devon's posts "juvenile and silly.".
Bridges and Lloyd, an accounting firm, provides consulting and tax planning services. For many years, the firm's total administrative cost (currently $250,000) has been allocated to services on the basis of billable hours to clients. A recent analysis found that 65% of the firm's billable hours to clients resulted from tax planning services, while 35% resulted from consulting services. The firm, contemplating a change to activity-based costing, has identified three components of administrative cost, as follows: Staff Support$180,000 In-house computing charges 50,000 Miscellaneous office costs 20,000 Total$250,000 A recent analysis of staff support found a strong correlation between the number of staff personnel and the number of clients served (consulting, 20; tax planning,
60). In contrast, in-house computing and miscellaneous office cost varied directly with the number of computer hours logged and number of client transactions, respectively. Consulting consumed 30% of the firm's computer hours and had 20% of the total client transactions.Assuming the use of activity-based costing, the proper percentage to use in allocating staff support costs to tax planning services is: A. 20%. B. 60%. C. 80%. D. 65%. E. 75%.
The degrees of freedom for a table with 7 rows and 4 columns is
A. 28. B. 11. C. 9. D. 18.
The capital asset pricing model assumes
A. all investors are rational. B. all investors have the same holding period. C. investors have heterogeneous expectations. D. all investors are rational and have the same holding period. E. all investors are rational, have the same holding period, and have heterogeneous expectations.