An investment company entered a contract with a landowner for the purchase of real estate. The land in question is divided into two lots - Parcel 1 and Parcel 2. After the transaction closed, a dispute arose as to whether both parcels were included under the Purchase and Sale Contract and whether both parcels should have been included in the legal description attached to the Warranty Deed. If a suit were filed (by either party), which of the following would be MOST relevant to resolving the dispute?
A)The Articles of Incorporation of the investment company as filed with the secretary of state.
B)The business card of the president of the investment company.
C)The business card of the landowner.
D)A corporate resolution authorizing the president of the investment company to sign the purchase and sale documents.

Question

Quizplus · Accepted Answer

A corporate resolution authorizing the president of the investment company to sign the purchase and sale documents. The best approach to answering this question is process of elimination. Neither Answer B nor Answer C is relevant because neither business card bears on the agreement between the parties or resolving the dispute. Answer A is relevant, but less important than Answer D because Answer D is directly related to the transaction at issue in the suit.

An Investment Company Entered a Contract with a Landowner for the Purchase