Question 2 Larry was always short of cash and owed money t…
Question 2 Larry was always short of cash and owed money to his friend Moe. Looking for a way to raise money fast, he came up with a scheme by which he could raise money fast and get Moe off his back. On April 1, Larry approached his friend Harry and offered to purchase Stoogeacre, which Harry owned, for $100,000. Harry agreed, and he and Larry executed a valid sale contract for the sale of Stoogeacre. The contract was not recorded, and closing was scheduled for May 1. On April 15, Larry approached his friend Curly and offered to sell Stoogeacre to Curly for $150,000. Curly jumped at the offer, and Larry conveyed Stoogeacre to Curly via a valid general warranty deed. Curly recorded the deed on April 30. The sale from Harry to Larry closed on May 1, and Larry recorded the deed on May 5. Larry owed Moe $50,000. On May 10, Larry offered to convey to Moe his interest in Stoogeacre in satisfaction of Larry’s debt to Moe. Moe agreed, and Larry executed a valid quitclaim deed conveying Stoogeacre to Moe on May 15. Moe did not record his deed. Moe immediately began building a single-family residence on Stoogeacre, which he completed on July 15 and promptly moved in. On July 1, Larry approached his friend Shemp and offered to sell Stoogeacre to him for $50,000. Shemp agreed on the spot to purchase Stoogeacre, and Larry conveyed Stoogeacre to Shemp via general warranty deed on July 10. Shemp promptly recorded the deed. On July 20, Shemp visited Stoogeacre for the very first time and found Moe living there. He commenced a quiet title action to determine ownership of Stoogeacre. 1. Who is likely to be deemed the owner of Stoogeacre: Curly, Moe, or Shemp? 2. What recourse would Curly, Moe, and Shemp have against Larry if not deemed owner of Stoogeacre?