In Reed V King, What Was the Reason That Led to the to the Final

question 26

Multiple Choice

In Reed v. King, what was the reason that led to the final decision by the court?

• A) King and the real estate agent demurred to Reed her first amended complaint for failure to state a cause of action.
• B) Reed paid $76,000 for the house which was actually worth $65,000.
• C) The property had a legal impairment to use.
• D) The fact concealed deprived Reed of the intended use of purchase.
• E) The fact concealed had a material effect on the agreed exchange of performance.

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Definitions:

Debit Memo

A document issued by a buyer to a seller indicating the amount deducted from the money owed to the seller.

Check Fee Expense

Charges incurred by a business or individual for issuing or cashing checks, often recognized as an expense.

Bank Service Charges

Fees charged by banks for account maintenance, transactions, or other financial services.

Note Collected

The receipt of cash from the repayment of a promissory note where the borrower repays the lender.