If what is promised is only the use of a specific thing which does not include its ownership, the contributing partner does not need to warrant the thing against eviction.
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If what is promised is only the use of a specific thing which does not include its ownership, the contributing partner does not need to warrant the thing against eviction.
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- Is a foreclosure sale sometimes desirable or even necessary when the mortgagor is willing to give a voluntary deed?Can a member who contributed an asset demand for its return, transfer or conveyance upon dissolution when it was initially contributed upon a condition to not return, transfer or convey it back?If a loss from sale or exchange of property between related parties is disallowed and the property is subsequently sold to an unrelated party, a.The disallowed loss is lost forever. b.The disallowed loss may be used if there is a further loss on the subsequent sale. c.The unrelated party may claim the loss previously disallowed. d.An amended return may be filed to claim the loss previously disallowed. e.The disallowed loss may be used to offset gain on the subsequent sale.
- Which of the following is true? B. The agent is expected to carry out an agency although its execution would manifestly result in loss or damage to the principal. D. Agency is presumed to be for a compensation, unless there is proof to the contrary. A. The contract of agency is extinguished by the insanity of the agent but not of the principal. C. Two persons authorizing an agent to sell a property on their behalf are liable jointly to the agent.The co-owner of an immovable property has a right to exercise A. pre-emption B. Redemption C. Legal Redemption D. Conventional redemptionDescribe the difference between a right of first refusal, an option agreement and a buy-sell agreement. Which type of transfer restriction can guarantee a buyer for a shareholder's investment in the event of death, retirement or disability?
- It refers to the right of mortgagor to redeem the mortgaged property after his default of the performance of his obligation by paying the secured obligation in order to prevent the public sale of his mortgaged property. a. Equity of redemption b. Right of redemption c. Right of preemption d. Equity of preemptionWhich one of the following is not an indicator of the transfer of control to the buyer? Group of answer choices Seller has transferred physical possession of property. Seller has legal title to the asset. Seller has present right to payment for the asset. Customer has accepted the asset.If the lessor has a substitution right throughout the period of use of the leased asset, which of the following is true? a. Lessor does not have the right to use an identified asset b. Lessor does not own the asset c. Lessee has the right to use an identified asset d. Lessee does not have the right to use an identified asset