Author Question: NIMBYs are: A)A form of general zoning plans. B)Exceptions to the zoning plans. C)Landowners who ... (Read 111 times)

FButt · **on:** Jun 24, 2018

NIMBYs are:
A)A form of general zoning plans.
B)Exceptions to the zoning plans.
C)Landowners who object to the location of businesses or projects near their properties.
D)None of the above

Question 2

O owns Blackacre, a lovely home in Phoenix, which is worth 100,000. Blackacre is mortgaged to M for 80,000. The mortgage provides that to secure the 80,000 debt, O mortgages all the following described real estate (description omitted) including all fixtures, improvement and appurtenances thereto, including those now existing or hereafter added to the property. The mortgage is duly recorded. Thereafter O purchases some lovely decorative mirror squares from Mike's Mirrors on credit (800). O then hires Harry to attach the mirrors (with a rather strong glue) to the east wall of his living room. Harry charges O 150 for his labors. Mike properly filed a financing statement on the mirrors - before Harry began installation. Harry files a mechanic's lien for the labor he performed when he was finished. (Filed after Mike; Mike filed after M). O pays nothing to Mike and Harry. Mike wants his mirrors and Harry wants to be paid. M objects saying his mortgage is superior to their rights. What results?

aliotak · **Reply #1 on:** Jun 24, 2018

Answer to Question 1

C

Answer to Question 2

Students should discuss terms such as PMSI, filing, afteracquired clause, etc. Mike has priority as PMSI, then M, then Harry. Mike can repossess so long as damage of removal is repaired.