A real estate investor purchased a home by taking out a $160,000 mortgage. After a few months, he sold the home to a buyer. According to the terms of the agreement signed by the parties, the buyer took the house “subject to the mortgage” and agreed to “assume payment of” the mortgage. A recession struck the area and the buyer found himself in financial difficul- ties. The buyer sold the home to a company that buys otherwise unsellable houses. Under the terms of the agreement signed by the parties, the company agreed to take “subject to the mortgage.” All deeds and the mortgage were properly recorded. After two months, the company ceased making mortgage payments. The bank that held the mortgage unsuccessfully demanded payments from the company, the buyer, and the investor. The bank properly instituted proceedings to foreclose, and the house was put up for judicial sale. Because the recession had severely depressed property values, the house sold for only $120,000. After the $120,000 was applied to the mortgage, $37,800 was still owing on the principal amount. From whom can the bank seek judgment to cover the deficiency?
A young boy was hospitalized after he accidentally swallowed…
A young boy was hospitalized after he accidentally swallowed a coin while playing. The boy recovered, but his mother began suffering feelings of anxiety, worrying that her child might be injured again. The mother went to a movie to relax and ordered some popcorn. While handling her change, the concession stand attendant carelessly dropped a quarter into the popcorn, which the mother did not notice until she bit the quarter. She did not swallow the quarter, nor did she bite on it hard enough to injure her teeth or gums, but the feel of the coin brought back all her anxieties about the boy’s injury. The mother sued the movie theater for her emotional distress. If the jury finds that a reasonable person would not have suffered similar distress under the circumstances, is the mother likely to prevail?
A manufacturer of widgets sent an offer to a major wholesale…
A manufacturer of widgets sent an offer to a major wholesaler, offering a standard lot (quantity well-known in the widget trade) of widgets for $8,000. The president of the wholesaler personally mailed back to the manufacturer the wholesaler’s standard printed acceptance form. However, the president wrote in large letters in his own hand on the form, “Our liability on this contract is limited to $200.” Two days later, the manufacturer’s sales manager received the communication from the wholesaler. A week later, the manufacturer had sent no additional communication to the wholesaler. What is the relationship between the parties?
The defendant was on trial for statutory rape. He denied tha…
The defendant was on trial for statutory rape. He denied that the alleged victim was even in his presence on the night of the alleged offense, when he was working as the night clerk at a convenience store. The prosecution offers to have a witness testify that, in a phone conversation on the evening in question, the victim, who is available to testify at the trial, said that she had to leave because the defendant wanted her to stop by the store while he was working. The defense objects to the proposed testimony. Should the court allow the witness’s testimony?
A woman arranged with a bank to take out a loan for $30,000,…
A woman arranged with a bank to take out a loan for $30,000, secured with a mortgage on her home. On June 3, the woman executed the note and the mortgage, and the bank gave her a certified check for $30,000. On June 4, the woman sold her home to a wealthy buyer for $150,000 in cash. The buyer knew nothing about the mortgage. On June 5, the buyer recorded her deed to the property. Two hours after the buyer recorded, the woman fled the country. On the evening of June 8, which was a Saturday, the buyer presented her niece with a deed to the property as a gift. At 10 a.m. on June 10, the bank recorded its mortgage. At 2 p.m. on June 10, the niece recorded her deed. After the woman missed her first mortgage payment on July 1, the bank employees went to the title office. They discovered the deeds to the buyer and her niece. The bank demanded that the niece satisfy the $30,000 mortgage. The niece filed an appropriate suit to determine the various interests in the property. The recording statute in the jurisdiction reads, in relevant part: “A conveyance of an estate in land shall not be valid against any subsequent purchaser for value, without notice thereof, unless the conveyance is recorded.” How should the court should rule?
Several years ago, a lender lent a borrower $1,000, and the…
Several years ago, a lender lent a borrower $1,000, and the parties agreed in writing that the borrower would repay the lender within one year. The borrower failed to repay the lender, but the lender took no action prior to the expiration of the five-year statute of limitations on suits for debt. Some time after that, the lender phoned the borrower and told him, “If you’ll pay me$600 now, I’ll forget all about that unpaid $1,000 debt.” The borrower agreed orally and then sent the lender a signed letter, which stated, “I, the borrower, agree to pay the lender $600.” The borrower never paid the lender the $600 and the lender sued the borrower shortly thereafter. What is the lender entitled to recover?
The nurse is preparing to administer a medication to a patie…
The nurse is preparing to administer a medication to a patient. Which action best demonstrates medication safety?
In the pseudocode for the dfs function for partitioning the…
In the pseudocode for the dfs function for partitioning the vertices in a graph into disjointed components, what is the missing pseudocode statement? dfs(graph, v, s): mark v as visited s.add(v) for each vertex, w, adjacent to v: if w is unvisited:
What four characteristics are you assessing when assessing r…
What four characteristics are you assessing when assessing repirations?
What type of diet would the CNA expect to be ordered for som…
What type of diet would the CNA expect to be ordered for someone with difficulty swallowing?