Debra Buys Land from Oscar,relying Upon a Mortgage Release Executed

question 55

Multiple Choice

Debra buys land from Oscar,relying upon a mortgage release executed and recorded by the mortgagee,Keith.Keith,however,had previously assigned the mortgage to Andrew who failed to have the assignment recorded.In this case,Andrew has:

• A) no claim against the property in the absence of Debra's actual knowledge of the assignment by Keith.
• B) no claim against the property because a mortgagee has no right to assign the mortgage to another person.
• C) a claim against the property because the assignment to him took place before Debra's purchase of the land.
• D) a claim against the property because recording is not necessary to the effectiveness of a mortgage assignment.

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Definitions:

Critical Items

Items that are essential for the production process or meet customer demands, where their absence can significantly impact operations.

Quantity Flexibility Contract

An agreement between a supplier and a customer that allows for adjustments in the purchase order quantity within certain predefined limits.

Demand Visibility

The ability of a company to forecast and respond to customer demand in a timely and accurate manner.

Buyback

A commercial agreement where a seller agrees to purchase previously sold products back from the buyer, often used in supply chain contracts to manage excess inventory or product returns.