Grant & Mahoney Partners, LLLP, a Virginia limited liability…

Grant & Mahoney Partners, LLLP, a Virginia limited liability limited partnership, owns Tolliver Luxury Apartments in Clearwater. There are 250 one-bedroom, 300 two-bedroom, and 100 townhouse units at the Apartments, as well as such as a pool, yoga studio, workout room, clubhouse, restaurant, small market, and reserved covered parking. In 2020 the Pinellas County Property Appraiser valued the Apartments for property tax purposes at $27,550,000. Grant & Mahoney’s CPA is preparing an estimate of its 2020 property tax amount due, and is waiting for the annual property appraisal and millage rate. The CPA needs that appraisal amount because the millage rate will be applied to each  $  _______  of the Apartment’s appraised value. (Select one answer only.)

After Lyor Moss went to contract to sell his personal Orland…

After Lyor Moss went to contract to sell his personal Orlando, Florida residence to Annabeth and Leo McGarry, a newly married couple, Moss decided not to disclose that the plywood under many of his roof’s shingles were damaged, and leaked into the attic and onto the trusses every time there was rain or snow {What? Snow in Florida…?} The McGarrys had their real estate agent ask Lyor about the condition of the roof, who responds the roof is “Great. No worries”. When the McGarrys ultimately sue Lyor for the misrepresentation, the McGarrys will win the case because Lyor’s misstatement: (Select one answer only.)

Michael’s BBKue Delights Incorporated (doing business as “Mi…

Michael’s BBKue Delights Incorporated (doing business as “Michael’s Delightful BBKue’d Meats”), a Virginia corporation, a full-service barbecue “joint” with sit-down and take-out stores throughout the southeastern U.S., is taking a $200,000 loan from Altobello Barbecue Financing Services, Inc., and is also a Virginia corporation, to purchase its utensils and cutlery, tables and chairs, décor items, and commercial kitchen equipment (including a grease trap upgrade and stove hood) for its new mall location. Altobello intends to fully collateralize its loan to Michael’s with a recorded UCC-1 financing statement. Altobello, Michael’s, and Underwood will execute a three-party  _____________________  Agreement. (Neither import nor assume any special facts or circumstances.) (Select one answer only.)

Jackie Sinatra Symphonic Supplies, Inc., an Oklahoma corpora…

Jackie Sinatra Symphonic Supplies, Inc., an Oklahoma corporation, has been negotiating with Riddle Equities V, LP, a Florida limited partnership, to lease one of Riddle’s downtown Palm Beach buildings. Sinatra is very private about its finances and operations, and has insisted its broker includes a non-disclosure/confidentiality agreement in the Letter of Intent between Riddle and Sinatra. In order to strengthen the LOI’s confidentiality/non-disclosure provision, this clause has been made specifically   _____________________  in the Letter of Intent. (Select one answer only.)

Cashiers Quarters is an ultra-luxury residential cooperative…

Cashiers Quarters is an ultra-luxury residential cooperative in Highands, North Carolina, and is controlled by the CQ Owners Association (which operates as a traditional member-based non-profit corporation). Cashiers Quarters’ most expensive unit has a value of $9,000,000. London and Langdon Carter reside in Unit 27. Unit 27 is 3,000 square feet, has three bedrooms and three-and-a-half bathrooms, the highest level of upgraded appliances, and a “top-shelf” outdoor kitchen. It also has a 270ᴼ wrap-around deck overlooking the beach. The Carters have received an offer to sell their Unit 27 interest to Peter and Cyndi Solomon. The Carters and the Solomons sign a cooperative purchase and sale agreement, and arrange for the Closing. Assuming no additional facts, the Carters and the Solomons can close the transaction following approval by: (Select one answer only.)