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- CARLA sold her cow to IZA forP40,000.00. No date or conditionwas stipulated for the delivery ofthe cow. While still in possessionof CARLA, the cow gave birth totwo (2) calves. Who has the rightto the 2 calves? ExplainJP received an amount ofP100,000.00 from RT, payable on orbefore November 15, 2021. It isstipulated in their contract that incase no payment is received onNovember 15, 2021, JP will act asthe courier of plants in the liveselling business of RT until his loanis paid. However, despite demandfrom RT when the obilgationbecomes due, JP refused & stillrefuses to act as courier in theplants live sellinsiness of RT.which type of deed provides a gurantee by the grantor that the grantor did not place any clouds of title or encumbrance on teh property? 1. quitclaim 2. bargain and sale 3. limitted warranty 4. General warranty
- State whether the following agreements or contracts are void, voidable valid, and provide a reason for your answer Q.2.6 Paul, an unrehabilitated insolvent, enters into an agreement to sell an asset which is excluded from the insolvent estate.Q.2.7 Jennifer is married to Mark in community of property. She signs surety for a loan that her sister has taken out, however she did talk to Mark about it over the telephone and he verbally agreed. Q.2.8 Caleb, aged 10, accepts a donation from his grandparent. Caleb was not assisted by a parent.“PROMISSORY NOTECapital CityUS$113,489.00 January 16, 20201. For value received. Michael Millington, 85 A Cipriani Boulevard, Capital City,(Your Jurisdiction), until December 31, 2019. d/b/a CENTRAL RACING SERVICE,Capital City, and his successors and assignees, promise to pay in U.S. dollars THESPORTS WIRE, INC., a U.S. corporation with offices at 318 Delaware Avenue, Delmar,New York 12054-1991, U.S.A., or order the principal sum of One Hundred ThirteenThousand Four Hundred Eighty Nine U.S. Dollars [$113,,489.00] with interest on theunpaid principal amount owing from time to time at the rate of ten and a half percentper annum [10.5%], commencing on February 1, 2020, and continuing on the unpaidprincipal until paid.2. This Note is payable in daily instalments of Two Hundred Fifty U.S. Dollars[$250,00], due on every day of every week except Sundays, commencing on February1, 2020 until this Note is fully paid. The daily payments shall be deposited by payor ina U.S. Dollar account,…1.An entity shall offset an asset relating to one plan against a liability relating to another plan when, and only when, the entity: has a legally enforceable right to use a surplus in one plan to settle obligations under the other plan intends either to settle the obligations on a net basis, or to realize the surplus in one plan and settle its obligation under the other plan simultaneously Neither. Both 1 and 2. 1 only. 2 only.
- A mortgage is transfer of an interest in specific immoveable property for the purpose ofsecuring payment of some amount of money. Elaborate in what different ways amortgage is created by highlighting their characteristics and mutual rights and liabilitiesof the parties in a precise manner?5 in order for a conditional receipt to be issued, the applicant must A take a medical examination B sign the application and pay the initial premium C name a beneficiary D elect a settlement optionFatima and Saira are sisters. They own a land. Fatima and Saira gave their land to Fatima's daughter, Mariam. The land was given to Mariam by Fatima on the condition that she will pay 200 OMR to Saira every year. The daughter agrees to the condition and signs the agreement, but later does not pay it. So, Saira has filed a complaint against Mariam. Questions a. Can Saira claim the payment from Mariam? Explain why or why not? b. Is the contract in this case enforceable by law? Explain why or why not?
- Kray Holdings, an Alberta-based bus iness, madean o ffer to purchase a luxury rental property inthe city of Van couver, which it planned tocontinue to use as a rental property, andprovid ed a $300 000 deposit. The seller, Chan,signed a property disclosure statementindicating she was unaware of material or latentdefect with respect to the property. Before theclosing date, Kray Holdings discovered thatChan's husband was a gang member and hadbeen munlered two years earlier on thesidewalk immediately outside the gate of theproperty. The murder remained unsolved. CanKray refuse to complete the sale and recover itsdamage deposit?A meeting of the minds occurs when both parties actually assent to a contract’s terms. It mayalso highlight the time of a mutual agreement, although the acts of this agreement need notoccur simultaneously. A subjective meeting of the minds was traditionally required when it cameto the assent of contract theory but modern law dictates that a meeting of the minds must beobjective1In relation to the requirement for a consensus to form a valid contract, explain 4 factors thatVitiate/affect consensus.4 which of the following policies allows the insured to continue the policy at the end of the policy term with no questions insured, even the insured's death A decreasing term B non-convertible term CEndowment D renewable term