What happens if the pledged property is damaged or destroyed while in the possession of the pledgee?
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What happens if the pledged property is damaged or destroyed while in the possession of the pledgee?
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- What are the potential risks and liabilities associated with breaching a contract, and how can parties protect themselves from these risks?The basis of property acquired as a result of an involuntary conversion is equal to the cost of the replacement property plus the amount of the postponed gain. True or falseWhat are the key elements of a valid and enforceable contract, and what remedies are available in case of contract breaches?
- help asapAn 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 $8,222,316David 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.
- Which one of the following is NOT a correct pairing of a trust provision with its characteristics? A) Spendthrift provision: a clause in a trust that prevents a beneficiary from withdrawing more than the greater of $5,000 or 5% of the corpus.quizlet B) Crummey provision: a trust clause that provides the beneficiary with a limited duration right to demand payment of contributions to a trust each year up to the annual gift tax exclusion from the trustee. C) Discretionary provision: a trust clause that allows the trustee to use his or her sole judgment in determining how much of the trust income and principal will be paid to or on behalf of a beneficiary. ?Joe took out a loan to purchase a new house. In return, Joe's lender placed a lien on the property. Is this legal? O No. Only Joe can place a lien his property. O No. A lender is never allowed to place a lien on a property as long as the borrower is up-to-date ontheir payments. О Yes. This is a voluntary mortgage lien that allows the lender to foreclose on the property if Joe defaults on the loan. O Yes. However, the lien is only valid for 12 months.Building and personal property coverage form Can cover which of the following expenses Except automobile held for sale Building additions Improvement and betterment Property of others
- Write a minimum of 4 paragraphs with an introduction about a kid in highschool "best of times" or "worst of times", at least two body paragraphs explaining your thoughts/reflection, and a full conclusion that restates your status quo and reasons. One paragraph should address why someone may have the opposite view of yours, a counterargument.To acquire a 400,000 square foot industrial park in Boca Raton, Florida at a purchase price of $40 million, an investor put down 40% and borrowed $24 million with a 30-year fully amortizing fixed rate mortgage loan at an annual contract interest rate of 5% payable monthly. The borrower was charged two points by the lender that was deducted from the loan amount at closing. If the monthly payments on the loan were paid on time each month and if the loan was fully repaid at the end of 10 years with no prepayment penalty, what was the effective annual yield on the loan to the payoff date? a.5.28% b.5.38% c.5.18% d.5.08%A seller paid $1,200 in HOA fees at the beginning of the year. The buyer closed on the property and took possession on June 1st. Using the 360-day calendar, how much would the buyer owe the seller in prorated HOA fees? $200 $700 $600 $1,200