John Finds a Small Industrial Lot He Would Like to Purchase

question 54

Multiple Choice

John finds a small industrial lot he would like to purchase for storage purposes.He meets with the owner and they discuss price.The owner makes an offer which John would like to accept but he requires one month to determine if he can come up with the needed funds.Rather than enter into an agreement of purchase and sale conditional on financing,John can also:

• A)enter into an option to purchase contract in which the owner commits to hold the offer open for thirty days.
• B)register a notice of pending sale on title to caution subsequent interested purchasers.
• C)register an easement.
• D)file a building scheme with the municipality confirming his interest in the property.
• E)claim adverse possession.

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Definitions:

Team Concerns

Issues or matters that are important to the well-being, performance, or success of a team.

Leadership Concerns

Issues or challenges that affect the ability of leaders to effectively guide and influence their followers, including decision-making, conflict resolution, and organizational change.

Building Trust

The process of developing a strong foundation of confidence and reliability among individuals or groups.

Power Distance

The extent to which less powerful members of institutions and organizations within a country expect and accept that power is distributed unequally.