Specific performance may be ordered when the O goods are unique. O subject of the contract is real property. O amount of the loss is so uncertain that there is no fair way to calculate damage O all of the above.
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A: All the above questions are based on contract act 1872.
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- 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.6. May a third person compel the creditor to accept payment or performance of an obligation? 7. When is demand by the creditor not necessary in order that delay may exist? 8. As a Business Administration Student why is it important for you to study obligation and contracts?1. X borrows money from a bank memorialized by a written loan agreement. Z orally promises the banker he will guarantee the loan. a) Z's promise is probably unenforceable in court, a collateral promise must be in writing. b) Z will have to pay the loan if X defaults. c) Collateral agreements need not be in writing to be enforceable in court. d) All of the above
- Which of the following statements is CORRECT about beneficiary dispon A ОВ Ос D. By naming an revocable beneficiary, a policyowner forkerts the right to change the beneficiary A primary beneficiary may not be a minor A primary beneficiary and a contingent beneficiary each receive one hall of the proceeds In group insurance, the employer is the beneficiary for each employee wwwYour insured lives in an apartment but takes a temporary position in another city and must store some major furniture items in a storage warehouse until he/she returns. In the interim the unfurnished apartment is sublet to a friend. Subsequently, the warehouse is broken into and some of your insured's furniture is stolen. What would a Tenants Comprehensive policy pay? OA) The actual cash value or replacement cost of the property stolen less the policy deductible, subject to the 10% limitation on property temporarily removed. OB) Nothing. The loss is not covered. OC) The actual cash value or replacement cost of all the personal property stolen, less the policy deductible, subject to the policy limit. OD) That proportion of the loss which the value of the property at the warehouse bears to the total value of all of his/her personal property.Given that one goal of a contract is to avoid litigation, which of the following can be useful to define within the contract? a. What severability is b. What a breach is c. What specific performance is d. What integration is
- Sometimes an issur with a property is discovered during the pre-closing stage. Buyers may be willing to accept deficiencies if they an compensate through a price reduction. Which of the following is correct regarding adjusting a purchase price to offset a deflciency.Select one: O. The value of the price adjustment may become a matter of negotiations between the parties. O. A new agreement of purchase and sale must be drafted and signed to finalize the price adjustment. O. A formal appraisal is always required to determine the adjusted purchase price. O. Buyers are contractually obligated to negotiate an adjusted purchase price.A fitness club gives clients free month after they have paid for eleven months. Approximately half of their clients remain with the club long enough to take advantage of this offer? Required: a. Define the term “liability.” Then explain whether the free month offer results in a liability for the fitness club. b. Explain what makes a liability “current.” Then explain whether the free month results in a current liability for the fitness club. c. Define the term “contingent liability.” Then explain whether the free month results in a contingent liability for the fitness club.16) Goods means every kind of immovable property other than actionable claims and money. a) True b) False 17) Faiz meets Farhan, a car dealer and tells him that he wants a car that can move 20km/liter. Farhan promotes one of the cars in the showroom and says that it suits the purpose. Faiz buys the car by relying on Farhan's representation. Subsequently Faiz finds that the car can move 15km/liter. The above situation is an example of breach of warranty. a) True b) False
- One of three tenants in your insured’s rented triplex, sets fire to his apartment, is charged with arson and jailed. Next day the tenant's wife bails out her husband who allegedly set the fire and they return to live in the damaged apartment. The insurance company wishes to retire from this risk as soon as possible. What procedure must the insurer follow to legally cancel the policy? O A) Insurer can cancel in five days by written notice of termination personally delivered and any return premium paid to insured. O B) Insurer cannot cancel the policy mid-term and must remain on risk until the renewal date. O C) Cancellation can only be made fifteen (15) days following receipt of cancellation notice by registered mail. O D) Policy must remain in force but any additional damage done by the tenant will not be covered."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. ?https://www.insurancejournal.com/news/southeast/2022/09/26/686645.htm 1. Who was the plaintiff and who is the defendant in this case? What remedy(s) was the plaintiff asking for the court to give? 2. Which aspect of "capacity" was the plaintiff in this case claiming was missing? Explain why. 3. What did the court rule and why? PLEASE ANSWER ALL 3 QUESTIONS IN AT LEAST 3-4 SENTENCES