Empire Bank and Smith Execute a Mortgage in Favour of Empire

question 25

Multiple Choice

Empire Bank and Smith execute a mortgage in favour of Empire Bank. Empire Bank informs Standard Bank, which later executes another mortgage of the property with Smith. Unknown to both Banks, Smith has already mortgaged the property to Jones. After registration by all, the register shows Standard, followed by Empire, then Jones. The priority of these mortgages is (from 1^st down)

• A) Jones, Empire, Standard.
• B) Jones, Standard, Empire.
• C) Standard, Empire, Jones.
• D) Empire, Standard, Jones.
• E) Jones, Empire, Standard is void.

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Definitions:

Low Long-term Oriented

Characterizes cultures or individuals that prioritize immediate results and gratification over long-term achievements.

High Power Distance

A cultural dimension indicating a society's acceptance of unequal power distribution among its members and institutions.

Bias-free Photos

Images captured or selected without prejudice, ensuring representation and neutrality without influencing viewer perception through bias.

Diversity

The inclusion of a wide range of different people, ideas, cultures, and characteristics in a group or organization.