Raven Owns Blackacre

question 18

Multiple Choice

Raven owns Blackacre.On October 10, she deeds the property to Alexis.Alexis records her deed on November 1.Raven also deeds Blackacre to Bill on October 20 and he records his deed on November 5.Assume that Bill is a bona fide purchaser.In a state that has a Race Statute whose deed will prevail?

• A)Alexis' deed.
• B)Bill's deed
• C)Raven's deed.
• D)No one's deed will prevail, since deeding property twice violates public policy.

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Definitions:

Surplus Amount

The excess of quantity supplied over quantity demanded in a market, often leading to lower prices.

Inferior Good

A type of good for which demand decreases as the income of the consumer increases.

Income Increases

The rise in the amount of money received, typically on a regular basis, for work or through investments.

Law of Demand

A principle stating that, all else being equal, as the price of a good or service increases, the quantity demanded decreases, and vice versa.