Zack Buys a House from Steven,agreeing to Assume the Outstanding

question 88

Multiple Choice

Zack buys a house from Steven,agreeing to assume the outstanding mortgage on the property held by Big Bank.Zack fails to make the mortgage payment.Which of the following statements is true?

• A)Zack can sue Steven for the mortgage payments.
• B)Steven is primarily liable for the mortgage.
• C)Big Bank has a cause of action against Steven only.
• D)If Big Bank sues Steven,Steven has an action against Zack for breach of contract.

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Definitions:

Major Steps

Key phases or actions taken in a process, such as the stages of negotiation or conflict resolution.

Information Exchange

The process of sharing or transferring information, data, or knowledge between parties in a negotiation or any other interaction.

Integrative Negotiation

A negotiation strategy focused on creating mutually beneficial agreements by addressing the underlying interests of all parties.

Firm Flexibility

The capacity of a company to adapt quickly and effectively to changing conditions or demands.