Consider the Following Excerpt from a Sample Deed: "The Seller

question 6

Multiple Choice

Consider the following excerpt from a sample deed: "The Seller is lawfully seized in fee simple of the above described property,." The underlined portion of the preceding statement represents which of the following basic requirements of a deed?

• A) Habendum clause
• B) Recital of consideration
• C) Covenant against encumbrances
• D) Exceptions and reservations clause

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Definitions:

Variable Costs

Expenditures that adjust according to the quantity of goods or services produced by an enterprise.

Fixed Costs

Regular outgoings that stay the same whether production or sales rates increase or decrease, for instance, rental costs or salary payments.

Net Income

This refers to the total profit of a company after all expenses and taxes have been deducted from total revenue.

Variable Cost

Costs that vary in proportion to the volume of goods or services produced, such as materials and labor.