Herschel borrowed $500 000 from Minah.As security for the repayment of that loan, a mortgage was created over a piece of land called Blackacre.Which of the following statements is TRUE?
A) Herschel is necessarily required to pay interest on the primary debt.
B) Herschel must have owned Blackacre at the outset.
C) If the mortgage created a charge on Blackacre, that piece of land must have been located in a land titles system.
D) Herschel must have borrowed the $500 000 from Minah for the purpose of buying Blackacre.
E) If Blackacre is located in a registry system, then the mortgage should be registered only if there is a possibility that it will not be repaid within three years.
Correct Answer:
Verified
Q16: Kiri bought a piece of land from
Q17: As a matter of risk management, commercial
Q18: Jacinta owns a piece of land called
Q19: Which of the following statements is TRUE?
A)A
Q20: The remedies for breach of a mortgage
Q22: Hristo created a mortgage, in favour of
Q23: Which of the following statements is TRUE?
A)The
Q24: Albert owns a piece of land called
Q25: Astrid borrowed $500 000 from Bartholomew.As security
Q26: Salome owned a piece of land called
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents