A buys a residential property from B. the property is being leased to C. in terms of the lease agreement, C (the lessee)m has a right to purchase the property (an option) from B (the original lessor). C wants to excercise his option to purchase against A. Can C excercise his option to purchase against A?
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![A buys a residential property from B. the
property is being leased to C. in terms of the
lease agreement, C (the lessee)m has a right to
purchase the property (an option) from B (the
original lessor). C wants to excercise his option to
purchase against A. Can C excercise his option to
purchase against A?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0ac8863e-06e5-4668-9f0a-7fe1ebaaf8eb%2F9fe49f85-a202-4f91-88a1-10c7d44b00d1%2Fgf4k24e_processed.jpeg&w=3840&q=75)
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- An owner, who bought an industrial building without financing on January 1st eight years ago for $8,000,000 is selling the property on December 31st of the current year for $8,900,000 and will incur a cost of sale of 3 percent of the sale price. The property allocation was 70 percent for improvements and 30 percent for land at the time of purchase. The owner's tax rates are 35 percent for ordinary income, 25 percent for cost recovery recapture, and 20 percent for capital gain from appreciation. What are the proceeds after tax for this sale? O $8,633,000 O $6,863,312 O $8,900,000 O $8,222,316Pisey needs $ 8,000 for her pig farm. After Sisey Pisey told her about the $ 8,000 she needed, the bank said she had collateral, such as a house, because borrowing, in principle, requires the bank to have collateral? Sister Pisey says I mortgaged the title deed to get a $ 8,000 loan from the bank. The bank assessed the land and told Pisey to borrow $ 25,000 (by submitting the land title), otherwise the bank would not lend her $ 25,000, not $ 8. $ 000) Do you agree? Sister Pisey said that I only need $ 8,000, $ 25,000 is more than I need! The bank said it was likely to force her to borrow $ 25,000 ... Finally, Pisey gave up the loan, fearing that the bank would not be able to confiscate land worth more than 25,000. Dollars. How do students understand the situation? Delay. As a Business ManagerWho is responsible for completing and providing the Residential Property Condition Disclosure Statement to the purchaser? 1. owner 2. investor 3. listing agent 4. selling agent
- Apex Hospital is in need of major renovation of its electrical system. One of Apex’s governing board members, Willy Watt, is an electrical contractor who is a partial owner of an electrical restoration company. He would like to bid on the project. May he? If he does, what must he do? What must the governing board do? Is there a problem with Mr. Watt’s fiduciary duty? Is there a problem with the governing board’s fiduciary duty? Recommend the best steps that Apex Hospital should follow.The four agree to a formula under which they will price the shares pursuant to granting each other the right to buy the shares of an owner who decides to sell. This is an example of what kind of restriction on transfer? Multiple Choice Provision disqualifying purchasers Put agreement Consent constraint Buy-and-sell Option agreementDavid owns a restaurant in downtown Sarasota. When David's lease is up, what happens to his cooking stoves and dish washing machines? O These items are considered trade fixtures and thus owned by David. David will take these items when he moves from the property. These items become emblements and belongs to both David and the landlord These items are considered trade fixtures and will stay with the landlord. These items are considered fixtures and will stay with the landlord.
- Liz acquired land on 1 January last year.On 1 March this year she decided to sell the land. Liz entered into a contract of sale on 1 May this year. The sale contract was settled on 1 July this year when Liz handed over the title and possession to the land in return for the sale price being received by her. Which of the following is correct under the “capital gains tax” provisions: Group of answer choices CGT event A1 has not happened. CGT event A1 happened on 1 January last year. CGT event A1 happened on 1 March this year. CGT event A1 happened on 1 May this year. CGT event A1 happened on 1 July this year.Compare an easement appurtenant and an easement in gross. Identify the choice that lists a correct, unique characteristic. An easement in gross applies to both the land and the owner. An easement in gross involves at least three pieces of property. An easement appurtenant applies to the land regardless of the owner. An easement appurtenant involves at least three pieces of property.Buyer Javier makes a formal offer to Seller Joy: $250,000 and the appliances stay. Joy counters: $250,000, no appliances. Joy then reconsiders and accepts the first offer. Is Javier is obligated to buy the home? Why or why not? Yes, because Javier never formally withdrew the offer. No, because once Javier's offer is countered, it is considered rejected and is dead. Yes, because Joy's counter was for the same amount of money as Javier's initial offer. No. because a buyer can withdraw from a contract for any reason without penalty.
- Able does not ever want Baker's shares to be transferred to Baker's brother, who has been convicted of criminal fraud and embezzlement on several occasions and who is currently serving time in a federal prison for one of those convictions. Which of the following types of restrictions on the transfer of Baker's shares might Able insist to accomplish this, even if Carter and Dennis don't share Able's concerns? Multiple Choice A put agreement Option agreement Provision disqualifying purchasers Buy-and-sell agreement Right of first refusalJohn owns a small rental cottage in St Augustine and his mother Brenda lives nearby in a rented apartment. He is concerned about her having a secure home to live in after her retirement so he decides to convey the cottage to her for the rest of her life, after which, ownership will revert to him. What would John's attorney probably have advised him to do to achieve these goals? Establish a Trust with his mother as one of the trustees Convey a tenancy at sufferance to Brenda. Convey a tenancy by the entireties to Brenda, pur autre vie. О Convey a life estate to Brenda with the right of reversion to John.Peter and Donald disagree on the interpretation of a business contract. Peter believes Donald owes him $20,000 and Donald believes he owes nothing. Peter believes he (Peter) has a 60% chance of prevailing. The cost of litigating is $2,000 each. Donald is 100% certain that he (Donald) will prevail. Which of the following statements are true? O This case will not settle because Peter and Donald have different expectations about who would win in court. O The case can settle with Donald paying Peter $9,000. O The case can settle with Donald paying Peter nothing. O The case can settle with Donald paying Peter $2,000.