The Seller's Warranty That He Has Marketable Title to the Land

question 51

Multiple Choice

The seller's warranty that he has marketable title to the land would be breached if the buyer discovers:

• A) a lien on the land.
• B) a defect in the chain of title.
• C) a lease of the premises.
• D) Any of these.

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Definitions:

Cost-Plus Pricing

A pricing strategy where the selling price is determined by adding a specific markup to a product's cost.

Multiproduct Pricing

Pricing strategies adopted by companies that sell multiple products and seek to maximize overall profits by considering cross-product price elasticity and cost structures.

Price Leadership

A situation where one dominant firm in an industry sets the price of goods or services, and other firms follow suit.

OPEC

The Organization of the Petroleum Exporting Countries, an international cartel that aims to manage the supply of oil in an effort to set the price of oil on the world market.