Author Question: First Federal financed the purchase of O's home and recorded a mortgage on September 12, 2015. O ... (Read 66 times)

fbq8i · **on:** Jun 24, 2018

First Federal financed the purchase of O's home and recorded a mortgage on September 12, 2015. O decided to build a swimming pool in the backyard. First Interstate loaned O 10,000 for the pool and recorded a mortgage on October 15, 2015. Who has priority?
A) First Federal
B) First Interstate
C) The Pool Company
D) None of the above

Question 2

Odometer fraud allows the purchaser to recover:
A) the entire purchase price of the automobile plus 1,500.
B) twice the actual loss from the fraud.
C) the total loss the buyer can collect to 1,500.
D) three times the actual loss or 1,500, whichever is higher.