In the Conveyancing Process Requisitions on Title Are Usually Sent

question 5

Multiple Choice

In the conveyancing process requisitions on title are usually sent to the vendor.Requisitions are:

• A)claims for the payment of costs incurred by the purchaser.
• B)questions that attempt to discover any problems that have not been disclosed.
• C)lists of non- fixtures that cannot be removed by the vendor.
• D)requests for repairs or improvements to be made before the sale is completed.

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Definitions:

Efficient Price

A market price that fully reflects all available information and maximizes the total benefits to society.

External Benefits

Positive effects experienced by third parties or the public due to an economic transaction they were not directly involved in.

Market Outcomes

The results of interactions between buyers and sellers in a market, including price, quantity, and quality of goods and services traded.

Efficient Quantity

The level of production that maximizes the difference between total revenue and total cost, leading to optimal resource allocation.