Alice Purchases a Home for $150,000

question 95

Multiple Choice

Alice purchases a home for $150,000.She borrows $100,000 from Local Bank,using the house as collateral,and giving the bank a mortgage.The representative of Local Bank forgets to record the mortgage.Alice sells the house to Bill after Bill reviews records but finds no mortgage on the property.Alice does not tell him about the loan from the bank,and leaves town soon after receiving the purchase money from Bill.Alice does not pay Local Bank the remaining loan balance of her loan.Which of the following is true?

• A) Bill is liable on Alice's loan to Local Bank, but the bank cannot foreclose on the property.
• B) Local Bank can foreclose on the property if it wants.
• C) Local Bank can foreclose on the property only if it can establish that an honest mistake was involved, and that its business practice was to record mortgages.
• D) Bill takes free of the claim of the bank only if he can show that the bank had a habit of not recording mortgages, and that the bank was negligent.
• E) Bill owns the house free of any interest of Local Bank.

Describe factors influencing voltage induction and components in control circuits.

Understand basic electrical measurements and safety precautions.

Identify and describe the use of safety procedures in electrical diagnostics.

Explain the various methods to measure electrical properties such as resistance, current flow, and voltage.

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Definitions:

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