Giordana borrows $225,000 for Hearthstone Credit Union to buy a home, which secures the loan. Five years into the term, Giordana stops making payments. Hearthstone forecloses and sells the property, but the proceeds are not enough to cover the unpaid amount of the loan. Hearthstone could now obtain a. a short sale b. a redemption c. a deficiency judgment d. a guaranty e. nothing more
Q: Gary contracts with Dan to buy Dan a new car manufactured by General Motors Corporation (GMC). GMC…
A: Answer : Correct answer is (a) - an intended beneficiary. Gary contracts with Dan to buy Dan a new…
Q: Which of the following premortem actions can increase the liquidity of a decedent's estate? Making…
A: Answer :- Correct answer is Option - D) III. Urging a client to keep written current records of…
Q: 4. Markus owed Landers $5,000, and since Markus had fallen on hard times, Landers cut the debt in…
A: Promissory estoppel might emerge where an individual expresses a material assertion of truth as…
Q: 1. Reinstatement of a life insurance policy requires an insured to take all of the following actions…
A: The question is asking which of the listed actions is not required for the reinstatement of a life…
Q: In addition to the collateral already in debtor’s possession, which of the following can be…
A: Question: In addition to the collateral already in debtor’s possession, which of the following can…
Q: On January 1, 2020 Alan made an interest-free loan of $200,000 to his son who used the loan to buy a…
A: Since here the beneficiaries of trust got the rights for withdrawal annually , the premium…
Q: 4 which of the following policies allows the insured to continue the policy at the end of the policy…
A: The objective of the question is to identify the type of insurance policy that allows the insured to…
Q: Hiren
A: The objective of the question is to record the journal entry for Crane, Inc. at the commencement of…
Q: State whether the following contracts are valid, unenforceable or illegal. a) Sam pays $10,000 to…
A: Before we can determine the validity, enforceability, or illegality of these contracts, we need to…
Q: An insured who wants to guarantee that an Accident and Health policy will remain in force even in O…
A: Ensuring the continuity of an Accident and Health insurance policy in the event of disability is a…
Q: What happens when homeowners owe more to subcontractors than the total price they were to pay the…
A: Subcontractors are independent businesses or persons hired by a general or primary contractor to…
Q: Grantor has established a trust, naming a bank as trustee. Pursuant to the terms of the trust…
A: Estate Planning:It is a type of agreement where a person decides who will own and manage their…
Q: Pls help ASAP
A: The term insurance policy represents the agreement between two parties in which one party makes a…
Q: The overall responsibility of a fiduciary estate manager is to a. make certain that payment of the…
A: A fiduciary estate manager refers to an individual who has the legal responsibility to handle the…
Q: Davaros Debtor is a New Jersey resident who is thinking about filing for bankruptcy. Debtor has been…
A: Based on the information provided, Davaros Debtor appears to be a candidate for bankruptcy…
Q: If you purchase stock in a firm, you become: O A shareholder of the firm O Liable for the firm's…
A: The concept of stakeholders refers to individuals, groups, or entities that have an interest or…
Q: under the death of an insured, a creditor May be able to be a claim if the a. beneficiary is the…
A: The question is asking under what circumstances a creditor may be able to claim from an insurance…
Q: Anita, who is divorced, maintains a home in which she and her 16-year-old daughter live. Anita…
A: The term "dependent" can have various meanings depending on the context. Here are a few possible…
Q: The liability for special assessment bonds for which the city is not obligated in any manner should…
A: The detailed solution of the question is given in Step 2.
Q: What are the essential components or elements that make up an insurance contract?
A: A contract is a legally binding agreement between parties that specifies the terms, conditions, and…
Q: Ruby is a homeowner with a mortgage loan. She's been missing payments, and recently received a…
A: The question asks about a scenario where Ruby, a homeowner with a mortgage loan, has been missing…
Q: A 92-year-old woman wanted to transfer the ownership of her 1,800 square foot home near Lahaina…
A: Grant Deed.A grant deed is a legal document used to transfer ownership of real property from one…
Q: Verisony sells iPhones to the public. Verisony sold and delivered an iPhone to Muriel on credit.…
A: Verisony has honed his security interest in the iPhone. This is due to the iPhone being a consumer…
Q: Number 20: Which of the following is a nonwrongful dissociation
A: Nonwrongful Dissociation: A partner's departure from a partnership in accordance with the terms…
Q: What inexpensive searches can a potential creditor conduct to learn about a debtor's past repayment…
A: Potential creditors can conduct several inexpensive searches to learn about a debtor's past…
Q: Jean died in a common-law state in 2023 and was survived by her husband, Loren, and three adult…
A: The net federal estate tax is a charge made by the federal government of the United States on the…
Q: Ginny DeWitt borrowed $30,000 from SunTrust Bank to pay for her first year of college and signed a…
A: The following scenario involves a debt dispute between Ginny DeWitt, SunTrust Bank, and First Bank…
Q: FACT PATTERN TWO A debtor has an automobile worth $5000. The federal exemption applicable to her…
A: In the above case the potential abuse of the bankruptcy system is made by a debtor who received an…
Q: One of three tenants in your insured’s rented triplex, sets fire to his apartment, is charged with…
A: In the aftermath of a tenant setting fire to their rented apartment, insurers often seek to mitigate…
Q: The date of death for a widow was 2021. If the estate was valued at $2,187,000 and the estate was…
A: To determine the heir's tax liability, we'll use the estate exemption available in 2021. Based on…
Q: OTC Ltd has ten members which included Hudson, a chartered accountant, not employed to the Company.…
A: "The solution has been provided in a generalized Manner." According to the information provided,…
Q: Which of the following statements is CORRECT about beneficiary dispon A ОВ Ос D. By naming an…
A: The objective of the question is to identify the correct statement about beneficiary disposition in…
Q: When an insurer pays a claim to its insured under a contract of insurance and attempts to recover…
A: Insurance is also a type of contract or agreement in which the insurer agrees to compensate or pay…
Q: Donald Wayne Doyle (Debtor) obtained a guaranteed student loan to enroll in a school for training…
A: The above case is about a person named D as due to D’s impending divorce, D took out a student loan…
Q: Brooklyn went into default on her home loan. Her lender decided to foreclose on the property. To do…
A: The objective of the question is to understand the type of state Brooklyn lives in based on the…
Giordana borrows $225,000 for Hearthstone Credit Union to buy a home, which secures the loan. Five years into the term, Giordana stops making payments. Hearthstone forecloses and sells the property, but the proceeds are not enough to cover the unpaid amount of the loan. Hearthstone could now obtain
a.
a short sale
b.
a redemption
c.
a deficiency judgment
d.
a guaranty
e.
nothing more
Step by step
Solved in 4 steps
- Association Plans established to provide health benefits to members are subject to state regulsion because they OA must be fully insured by an authorized insur SOB. provide retirement benefits exceed statutory reserve requirements require an employer employee relationship C. OD.What is the name of the clause that permits the lender to declare the entire unpaid balance immediately due and payable upon default? O The defeasance clause O The acceleration clause O The alienation clause • The lis pedensOTC Ltd has ten members, which included Hudson, a chartered accountant, not employed to the Company. The Articles of the Company contained a provision that Hudson would be employed by the Company, to do the Company’s account by January 20, 2022 for a stated fee. Several months after the date stated, Hudson did not hear from the Company and after several enquiries, he was told that the Company hired another accountant. Hudson has decided to take action against the Company. Required Using case law and the headings of Issue, Rule, Application/Analysis and Conclusion (The IRAC Method) advise Hudson.
- pls help asapConsidering the following statements true or false. 1.Circumstances whereby the CFA member breaches client confidentiality are acceptable in circumstances directed by the client in writing. 2.Mosaic theory damages the interest of all investors by disrupting the smooth functioning of forward markets and lowering investor confidence. 3.As a philosophical ethical principle, when analysing actions undertaken, it is acceptable that an act can be seen as good or bad regardless of the underlying/relevant circumstances. 4.As part of Standard IV, as a superior, it is not your responsibility to ensure ethical behaviour of your subordinates. 5.Premium investment services should be designed in such a way that, while beneficial to those who are in a position to take advantage of them, they are not unfairly disadvantages to other classes of clients.Zack was a partner in a management consulting firm that specialized in assisting small businesses in the area of financial planning. The firm did not perform income tax savings. However, since Zack had personal expertise in tax accounting, he frequently assisted friends, as well as some firm clients, in preparing their income tax returns. Usually he borrowed the firm's adding machine and other office supplied to perform this work from his home unbeknownst to his partners. Zack may be required to retire from the partnership for breach of warranty of authority account to the other partners for any money received from his income tax service assign his share in the partnership to another to take his place in the partnership All of the responses are possible None of the responses are possible.
- Mario files for bankruptcy. He owns one car worth $2,000.00. He will O not have to list it as an asset on his petition O keep the car O keep it if and only if he files a chapter 13 bankruptcy O give the title to the trusteePls helpExplain the circumstances under which you feel a consumer bankruptcy is appropriate, and when the ability to have a debt eliminated should be restricted.
- Believing that his debt is due when in fact it is not, Dr paid his 10,000 debt to Cr. Give the effect of this payment? A. Dr may not recover because the payment is valid. b. Dr may not recover because anyway he is indebted to that amount and it has to paid. C. Dr. may recover his payment because it was not yet due together with the fruits and interest from the time of payment. d. Both a and bRaphael, a minority shareholder of the Sample Corporation, claims that the following sales are void and should be annulled. Explain whether Raphael is correct. a. Smith, a director of the Sample Corporation, sells a piece of vacant land to the Sample Corporation for $500,000. The land cost him $200,000. b. Jones, a shareholder of the Sample Corporation, sells a used truck to the Sample Corporation for $8,400, although the truck is worth $6,000.If Barney’s employer withholds $11,928 for federal taxes, which is 14% of his gross annual salary, then would Barney owe additional taxes by April 15th of the next year or would he receive a refund, and in either case, by how much?