Use the Fact Situation in Q1 to Answer the Related

question 10

Multiple Choice

Use the fact situation in Q1 to answer the related question that follows. Based on the date and time of registration of each of the two mortgages,assume that six months after the registration of the mortgages,George defaults on the TD Canada Trust mortgage and that his house is now worth $600 000.00.On a sale of the house by TD Canada Trust,the Royal Bank would receive

• A)$450 000.00.
• B)$50 000.00.
• C)$700 000.00.
• D)$250 000.00.
• E)$100 000.00.

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Definitions:

Montezuma

The ninth Aztec emperor of Mexico, noted for his inability to effectively deal with the Spanish conquest led by Cortés.

West Coast

Usually refers to the westernmost coastal areas of a continent, in many contexts relating to the Pacific coast of the United States.

Fifteenth Century

The time period from the year 1401 to 1500, marking the later Middle Ages and leading into the Renaissance in Europe.

Portuguese

The Portuguese refers to the people of Portugal, a country in southwestern Europe, known for its exploratory achievements, maritime history, and cultural influences across the globe.