A borrows $50,000.00 from Bank and pledges real property as security. After the loan, A sells the property to B, who buys subject to the mortgage. B then defaults on the mortgage loan. Under the following example, which of the following statements is/are true?
A. Bank may foreclose on property.
B. Bank can sue A to recover debt.
C. Bank cannot sue B to recover debt.
D. A cannot sue B for reimbursement if A pays Bank.
E. All of the above
F. None of the above
Answer: E
You might also like to view...
The term jurisdiction does not mean:
A. The court's control or power over a specific geographic territory. B. The power of a court to hear and resolve a dispute. C. The delegation of a case to a different venue. D. The court's power to render judgment on a person.
What is the difference in consequences to a plaintiff that is found contributorily negligent as to whether the claim has been filed in a contributory negligence state or a comparative negligence state?
What will be an ideal response?
Everybody on the trial team should be comfortable with the operation and use of the technological equipment before the start of trial
a. True b. False Indicate whether the statement is true or false
What was the largest value of gift that a donor could make in 2012 without filing a tax return?
a. $10,000 b. $11,000 c. $13,000 d. $14,000