purchase agreement, business and finance homework help
With a purchase agreement, the date of formation of the contract is: a. when acceptance is communicated to the offeror b. the date the contract is prepared c. the date the buyer signs d. the date the offer is made Who would be in the weakest position to protect himself against a loss of property to another claimant? a. A holder of a recorded deed who rents the property out b. A holder of an unrecorded deed who occupies the property c. A holder of a certificate of title issued by a title company d. A holder of an unrecorded quitclaim deed who does not occupy the property Who is generally responsible for the installation of the curbs, streets, and public utilities in a new subdivision? a. The developer b. City or county planning office c. Bonding companies serving the developer d. Improvement districts formed by lot purchasers Which would a court disregard in deciding whether an item of personal property has become real property? a. Agreement between the parties b. Permanence of annexation c. Cost of the item d. Relationship of the parties Which of the following is not considered to be appurtenant to land? a. Watercourses b. Fences c. Dwellings d. Trade fixtures Which of the following sources would be the least satisfactory for obtaining a legal description of a parcel of real property? a. Deeds b. Preliminary title reports c. Escrow instructions d. Real property tax bills Which of the following methods would create an easement that would be easiest to terminate for nonuse? a. Express reservation b. Implication c. Prescription d. Quitclaim deed Which of the following is a requirement for a tenancy in common relationship to exist? a. The tenants in common must have the right of survivorship b. Each tenant in common must have an equal interest c. There must be unity of possession d. Each tenant must take title to the property at the same time Which of the following organizations is considered to be an artificial person? a. Joint venture b. Corporation c. Partnership d. All of the above Which of the following would not be considered real property? a. Rights to unextracted oil b. An easement appurtenant c. An uncultivated stand of trees d. A leasehold estate in a rental house
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