Use the Fact Situation in Q1 to Answer the Related

question 39

Multiple Choice

Use the fact situation in Q1 to answer the related question that follows. Assuming that the Royal Bank mortgage was to be a first mortgage,in Ontario,

• A)it would transfer legal title of George's house to the Royal Bank.
• B)it would simply be a lien on encumbrance on title to George's home.
• C)it would transfer an equitable interest in George's house to the Royal Bank.
• D)it would transfer the equity in George's house to the Royal Bank.
• E)it would transfer the equity of redemption in George's house to the Royal Bank.

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Definitions:

Uncertainty Avoidance

A cultural dimension that describes the extent to which individuals in a society are uncomfortable with ambiguity and risk, preferring structured situations.

In-Group Collectivism

The tendency of individuals within a group, culture, or society to prioritize the goals, values, and well-being of their in-group over those of outsiders.

Cultural Superiority

The belief that one's own culture, values, or societal norms are superior to those of other cultures, often leading to biases and misunderstanding.

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale, impacting economics, culture, and politics.