The Type of Deed Offered by the Grantor Is Communicated

question 3

Multiple Choice

The type of deed offered by the grantor is communicated through a phrase such as "does herby grant, bargain, sell and convey unto . . ." This clause is referred to as the:

• A) recital of consideration
• B) words of conveyance
• C) covenant
• D) habendum clause

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Definitions:

General Partner

A type of partner in a partnership who is responsible for the day-to-day management of the partnership and is personally liable for the partnership's debts.

Misapplication Funds

Refers to the wrongful use or allocation of funds that were intended for a specific purpose.

Partnership Relationship

The legal and operational relationship existing between partners in a business venture, governed by a partnership agreement.

Obligations

Duties or responsibilities imposed by law, contract, or social norms.