Describe how the holding, in the rockstad case, is of interest to landlords who want their...

Describe how the holding, in the rockstad case, is of interest to landlords who want their tenants to make timely payments of rent.

Expert Solution

In the Rockstad case, he was found liable as he failed to repay the loan he took from Gerald Erikson. The loan was taken on a deed of trust on Rockstad's Home. In order to solve this case, the Supreme court awarded Erikson with the principal amount along with interest pending. Rockstad argued against this judgement. According to Erikson, he granted a loan of $ 26000 in all. But according to Rockstad, the loan was taken by him and his wife separately i.e. of $12,200 and $13,800 . Rockstad signed a deed that stated that he would repay the loan of $26000 that was secured by the deed of trust on his home. On not receiving the payments and arguments with Rockstad on the deed matter, Erikson filed suit against him. He demanded the loan amount with interest accumulated. After all the proceedings, the Supreme court gave Erikson the loan amount with all the interests and ordered the sale of Rockstad's House. The judgement was in favor of the landlord . Therefore, this case describes the holding is of interest to landlords who want their tenants to make timely payments of rent.

Rahul Sunny answered 2 years ago

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