Privity of estate - Study guides, Revision notes & Summaries

A woman borrowed $100,000 from a bank and executed a promissory note to the bank in that amount. As security for repayment of the loan, the woman's brother gave the bank a mortgage on a tract of land solely owned by him. The brother did not sign the promissory note.The woman subsequently defaulted on the loan, and after acceleration, the bank instituted foreclosure proceedings on the brother's land. The brother filed a timely objection to the foreclosure. Will the bank succeed in foreclosing ...

ASHI Home Inspector Exam Study Guide Rated A+ ASHI's objectives include: promotion of excellence within the profession and continual improvement of its member's inspection services to the public. The purpose and scope of ASHI guidelines include: performing inspections that are intended to provide the client with a better understanding of the property conditions, as observed at the time of the inspection. Swale a low or hollow place, especially a marshy depression between ridges. A water-harv...

AYPO Law of Agency The Original Legislation: - ANS The Real Estate Dealers Act of 1939 main piece of Texas law governing the licensing and behavior of real estate professionals in the state. - ANS The Real Estate License Act (TRELA) Licensing Duties were added in: - ANS 1955 Broker license was changed from 2 years in the 36 month before the application to: - ANS 4 Years in the 60 months before application TREC is the agency in charge of overseeing t...

How must the cost of borrowing be expressed in a borrower disclosure form? - ANSWER The cost of borrowing must be disclosed as an annual percentage rate, section 8.1 of Regulation 191/08 states that it must also be disclosed in dollars and cents over the course of the term for all fixed and variable rate mortgages. When or under what circumstances would a Broker not have to supply his or her borrower with a borrower disclosure form? - ANSWER If the brokerage does not require the borrower t...

MIE 305 Final Exam When choosing an organizational form, entrepreneurs should consider: - ANS Ease of creation Owners' liability--maximize gain, limit risk of loss Tax considerations--pass through or entity tax? Ability to raise capital--Private funding or shares? Basic forms of Business Organization - ANS Sole proprietorships--> one person owns it Partnerships--> Multiple people own it Corporations--> Ownership to shareholders Franchises--> opera...

AYPO Real Estate Law of Agency Final Exam Review Real estate agents are considered to have which kind relationship with clients? - ANS A fiduciary relationship Acting as which of the following is a violation of The Real Estate License Act? - ANS Acting as a broker without possessing a valid license issued by the Texas Real Estate Commission Which of the following is a reason to study the aspects of agency and agency law? - ANS 1. Agents who are well versed...

AYPO Real Estate Law of Agency Final Exam Review Real estate agents are considered to have which kind relationship with clients? - ANS A fiduciary relationship Acting as which of the following is a violation of The Real Estate License Act? - ANS Acting as a broker without possessing a valid license issued by the Texas Real Estate Commission Which of the following is a reason to study the aspects of agency and agency law? - ANS 1. Agents who are well versed...

MIE 305 Final Exam When choosing an organizational form, entrepreneurs should consider: - ANS Ease of creation Owners' liability--maximize gain, limit risk of loss Tax considerations--pass through or entity tax? Ability to raise capital--Private funding or shares? Basic forms of Business Organization - ANS Sole proprietorships--> one person owns it Partnerships--> Multiple people own it Corporations--> Ownership to shareholders Franchises--> opera...

RECA Fundamentals Verified Q&A Scored 100% Individual is expected to do the right thing cause it's the right thing to do, regardless of outcome *ANS* duty-based ethics Sells the optimal result for the greatest number of people *ANS* utalitarian ethics Punishment for a technical breach *ANS* Advisory note One or two potentially serious infraction would cause this punishment *ANS* Administrative penalty/ fine These two ways of creating a representation relationship should not be do...

ANSW ERS TO BAR EXAMINATION QUESTIONS IN CIVIL LAW ARRANGED BY TOPIC (19 9 0 – 2 0 0 6 ) First Editio n - Edite d an d Arran ged by: J uly 26, 2005 Atty. Janette Laggui-Icao and Atty. Alex Andrew P. Icao (Silliman University College of Law) Latest Edition – Edited and Arranged by: ROMUALDO L. SEÑERIS II Silliman University College of Law Fro m the ANSW ERS TO BAR EXAMINATION QUESTIONS by the UP LAW COMPLEX & Philippin e Asso ciatio n o f Law Scho o ls CIVIL...