Ava Is a Scoundrel

question 5

Multiple Choice

Ava is a scoundrel.She owned a piece of land called Blackacre, which is located in a registry system jurisdiction.On Monday, she sold it to Marlon.Two days later, on Wednesday, she sold it again to Frank.She had no right to do so.Which of the following statements is TRUE?

• A)Blackacre is now owned by whoever's name appears on the most recent certificate of title.
• B)Ava is entitled to compensation from the assurance fund.
• C)Marlon can become the owner of Blackacre even if he registers his interest without notice of Frank's interest.
• D)Because Ava already sold Blackacre to Marlon, Frank cannot acquire the fee simple as a result of registration.
• E)The doctrine of indefeasibility will protect Marlon.

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Definitions:

Warehouse Space

A designated area used for storing goods in order to ensure their preservation, organization, or security before distribution.

Perfectly Competitive Industry

An industry structure where many firms produce identical products, entry and exit are easy, and no single firm can influence the market price.

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded, with a typical downward slope indicating that demand increases as price decreases.

Producer's Surplus

The difference between what producers are willing to accept for a good or service and what they actually receive.