What Is an Abstract of Title

question 38

Multiple Choice

What is an abstract of title?

• A) a recordation of a deed that gives constructive notice to the world of the owner's interest in a property
• B) a judicial proceeding where a certificate of title is awarded to the real owner to property
• C) a form of insurance obtained for losses caused by undiscovered defects in title
• D) a chronological history of the chain of title and encumbrances affecting a property

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Definitions:

Cost-oriented

A pricing strategy where the price of a product or service is determined based on its production cost plus a markup.

Price Lining

A pricing strategy where a retailer offers a product line at several price points, catering to different customer segments and preferences.

Odd-even Pricing

A pricing strategy that sets prices just below a round number (e.g., $19.99 instead of $20) to make the price seem lower than it actually is.

Customers' Responses

Feedback or reactions of customers to a product, service, or interaction with a business.