« previous next »

Author Question: A proxy is revocable to the same extent as an agency. Indicate whether the statement is true or ... (Read 64 times)

jwb375

  • Hero Member
  • *****
  • Posts: 540
on: Jun 24, 2018
A proxy is revocable to the same extent as an agency.
  Indicate whether the statement is true or false

Question 2

Brice owns a parcel of land that is encumbered by a mortgage held by the First National Bank. Brice agrees to sell the land to Paul for 50,000. Brice and Paul together go to the First National Bank to discuss the sale and purchase with the banker. Brice, Paul, and the banker sign an agreement stating that Paul will assume the mortgage and that Brice will be discharged from all further liability on the mortgage. In this case:
 A) the bank is a third party donee beneficiary.
  B) the bank can collect from Brice if Paul defaults.
  C) Brice is a third party beneficiary of the agreement between Paul and the bank.
  D) the agreement among the three is a novation.


coreycathey

  • Sr. Member
  • ****
  • Posts: 333
Reply #1 on: Jun 24, 2018
Answer to Question 1

TRUE

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Did you know?

After 5 years of being diagnosed with rheumatoid arthritis, one every three patients will no longer be able to work.

Did you know?

Adolescents often feel clumsy during puberty because during this time of development, their hands and feet grow faster than their arms and legs do. The body is therefore out of proportion. One out of five adolescents actually experiences growing pains during this period.

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

true story true story
Three days after the Boston Marathon explosion, the FBI released this photograph that had been taken Three days after the Boston Marathon explosion, the FBI released this photograph that had been taken
Human arrival and the extent of the recent extinction wave Human arrival and the extent of the recent extinction wave
Using radiogenic strontium isotopes in carbonate shells as a proxy for orogeny Using radiogenic strontium isotopes in carbonate shells as a proxy for orogeny
Midsagittal section indicating locations of true and false pelves Midsagittal section indicating locations of true and false pelves
A bank statement shows a balance of $2,970.31 The check register of the account owner shows an ... A bank statement shows a balance of $2,970.31 The check register of the account owner shows an ...
Video: Audiology

For a complete list of videos, visit our video library