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Author Question: With reference to 46 above, Barnes Escrow has received cash of 45,000 from Gramercy Stables for the ... (Read 45 times)

TFauchery

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on: Jun 24, 2018
With reference to 46 above, Barnes Escrow has received cash of 45,000 from Gramercy Stables for the cash closing requirements of 102,000. Gramercy pays the remaining amount of the cash due at closing through a wire transfer to Barnes from Gramercy's Bank. Barnes proceeds with the disclosure with no further action.
 A)As long as the total amount due is deposited with Barnes, Barnes has complied with its duties.
 B)The 45,000 will require a source verification under the Patriot Act.
 C)The 45,000 does not require a source verification because the majority of the funds came directly from a bank.
 D)The Patriot Act does not apply to escrow companies.

Question 2

Margaret was shopping in a large grocery/department store when she slipped on some spilled dusting powder and fell, injuring her back. Margaret wishes to recover for her medical bills and her injury. What result? What further information would be helpful?


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choc0chan

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Reply #1 on: Jun 24, 2018
Answer to Question 1

B

Answer to Question 2

Margaret is an invitee and is probably going to recover. Was there any warning sign? How long had the powder been there? What was the frequency of the store's cleanup policy?


TFauchery

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Reply 2 on: Jun 24, 2018
Wow, this really help

ktidd

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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