Yun-Fat Purchased a Property from Brandon

question 69

Multiple Choice

Yun-Fat purchased a property from Brandon.The land titles office then issued a certificate of title to Yun-Fat.Unfortunately, a month later, the land titles office realized that it had made a mistake.The land had been owned by Marilyn rather than Brandon.Which of the following statements is most likely to be TRUE?

• A)Yun-Fat is liable to Marilyn if he negligently failed to inspect the land registry.
• B)Marilyn has the right to recover the land, but only if she pays Yun-Fat the property's fair market value.
• C)Marilyn may receive payment from the land titles system, but only if she successfully sues it for the tort of negligence.
• D)If she is unable to recover the land, Marilyn may receive compensation from the assurance fund.
• E)The property must be located in one of the Maritime provinces.

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Definitions:

Dividends Declared

Profits distributed by a company to its shareholders out of its earnings, based on the number of shares owned.

Retained Earnings

Profits that a company has earned to date, less any dividends or other distributions paid to shareholders, often reinvested in the business or kept as a reserve.

Cost Of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including materials and labor costs, but excluding indirect expenses.