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Author Question: The tort statutes of limitations tend to be __________the UCC statute of limitations. A) shorter ... (Read 136 times)

gonzo233

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on: Jun 24, 2018
The tort statutes of limitations tend to be __________the UCC statute of limitations.
 A) shorter than
 B)longer than
 C)equal to
 D)excluded by

Question 2

Zack Peyton borrowed 398,000 from Fifth First Bank to purchase a new home. Zack gave First Bank a mortgage on his home. The mortgage was recorded on January 3, 2014. Zack had made a down payment of 42,000. When Zack moved in, he purchased an in-ground swimming pool from Paddock Pools for 35,000. Zack paid Paddock 4,000 and Paddock financed the remaining amount for him, recording a mortgage for 29,000 on February 26, 2014. Zack needed window coverings, landscape, and some new furniture. Wells Fargo gave Zack a 150,000 home equity line of credit, secured by a mortgage on Zack's home for 150,000. Wells Fargo recorded the home equity credit line mortgage on February 1, 2014. Zack, because of a bonus at work, did not draw on the line of credit until June 10, 2015, using 25,000. The economy went south somewhere around September 2015. The value of Zack's home dropped by almost 50. Zack lost his job. He could no longer make his payments. Fifth First Bank served Zack with a notice of foreclosure on November 1, 2015. Suppose that Tommy Tonita purchased the Zack home at a foreclosure sale. Tommy paid the 220,000. What type of document would Tommy receive at the foreclosure sale?
 A)A warranty deed
 B)A special warranty deed
 C)A sheriff's deed
 D)A bargain and sale deed


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jrpg123456

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

A

Answer to Question 2

C


gonzo233

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

sailorcrescent

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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