E and R sign a mortgage agreement and note whereby E agrees to advance $45,000 to R in three installments if R requires them. E records the mortgage on June 1, 2015 and makes the first advance on August 1, 2015. R has failed to pay a mechanic, who filed a lien on July 27, 2015
A)?The mechanic has priority
B)?E has priority
C)?Both share equal priority
D)?None of the above
A
You might also like to view...
Which of the following accounts is NOT a major account in the acquisition and payment cycle?
a. Inventory. b. Cost of goods sold. c. Accounts payable. d. All of the above are major accounts.
Liabilities are debts owed by the business entity
Indicate whether the statement is true or false
On June 18, Wyman Company (a U.S. Company) sold merchandise to the Nielsen Company of Denmark for €60,000 (Euros), with a payment due in 60 days. If the exchange rate was $1.35 per euro on the date of sale and $1.14 per euro on the date of payment, Wyman Company should recognize a foreign exchange gain or loss in the amount of:
A. $12,600 loss. B. $60,000 loss. C. $60,000 gain. D. $12,600 gain. E. $68,400 loss.
The Irish labor relations system is similar to that of Great Britain except that:
A. Irish labor contracts are legally enforceable. B. The Irish system includes final and binding arbitration. C. The Irish system includes social partnership in addition to voluntarism. D. The Irish have a system of exclusive representation.