Question

In: Operations Management

The source of law governing foreclosures is the a. Uniform Commercial Code b. State of residence...

The source of law governing foreclosures is the a. Uniform Commercial Code b. State of residence of the seller of the property c. state where the foreclosure takes place d. internal revenue code

Solutions

Expert Solution

Foreclosures are generally governed everywhere but the procedure followed and other factors int he process varies from state to state and depends on the regulations and laws of that state. Hence the source of law of foreclosure is the state where it takes place. Hence the answer is C.


Related Solutions

An insurance contract is under the: a. Uniform commercial Code b. Civil Code c. Common Law...
An insurance contract is under the: a. Uniform commercial Code b. Civil Code c. Common Law d. Special type of contract
What does the uniform commercial code (UCC) state regarding price and warranty?
17(TCO H) What does the uniform commercial code (UCC) state regarding price and warranty? What if a price is not specified in an agreement? What if a price is specified in an agreement? Does the UCC modify the price? What about a warranty? What rights does the buyer have for a guarantee under the UCC? What protection is granted to the seller?18You are the project manager on a social media project. The buyer wants to get an idea of how...
Residence and Source 1.         Briefly explain the relevance of ‘residence’ and ‘source’ in determining a taxpayer’s...
Residence and Source 1.         Briefly explain the relevance of ‘residence’ and ‘source’ in determining a taxpayer’s taxation liability. 2.         What four tests are used to determine the question of an individual’s ‘residence’? 3.         How have the courts interpreted the phrase ‘permanent place of abode’? 4.         Define ‘domicile’. 5.         Briefly describe: (a)        domicile of origin; (b)       domicile of choice; (c)        domicile of dependency. 6.         In broad outline, how do you determine the ‘source’ of particular income? What are the possible sources...
The Uniform Commercial Code does not allow a seller to resell or dispose of the goods...
The Uniform Commercial Code does not allow a seller to resell or dispose of the goods when the buyer is in breach and the goods have not yet been delivered; instead, the seller must seek an order of specific performance against the breaching buyer. True or False
According to the Uniform Commercial Code 3-104, what is a negotiable instrument?
According to the Uniform Commercial Code 3-104, what is a negotiable instrument?
Under the Uniform Commercial Code (UCC), risk of loss passes to the buyer (A) when the...
Under the Uniform Commercial Code (UCC), risk of loss passes to the buyer (A) when the goods are delivered to the carrier if the terms are FOB destination (B) when the goods are placed on the seller’s loading dock if the terms are FOB destination (C) when the goods are placed on the seller’s loading dock if the terms are FOB shipping point (D) when the goods are delivered to the carrier if the terms are FOB shipping point
Explain the applicability of the Uniform Commercial Code (UCC) to bank transactions Assignment Overview: In this...
Explain the applicability of the Uniform Commercial Code (UCC) to bank transactions Assignment Overview: In this writing assignment, you will explain a bank's liability when it deposits a customer's check in the wrong account. Deliverables: A 150-word (2-3 paragraph) paper Step 1: Write a short statement informing a bank of its liability when it deposits a customer's check in the wrong account. Three weeks ago, you deposited a $1,000 payroll check at your bank after having signed your name to...
under the Uniform Commercial code, article 2 covers the sale and transfer of title of investment...
under the Uniform Commercial code, article 2 covers the sale and transfer of title of investment securites, insurance policies, commercial paper or real estate. true or false?
21. Under the Uniform Commercial Code (UCC), an express warranty may be created by a Seller...
21. Under the Uniform Commercial Code (UCC), an express warranty may be created by a Seller showing a sample of a particular item to a Buyer, and the Buyer relying on that sample to make a purchase decision. T/F 22. Which one of the following warranties only applies if the Seller is a Merchant? a. Express warranties b. Implied warranty of fitness for a particular purpose c. Implied warranty of merchantability d. Implied warranty of good title e. None of...
The Uniform Commercial Code (UCC) includes a number of provisions that apply to contracts between merchants....
The Uniform Commercial Code (UCC) includes a number of provisions that apply to contracts between merchants. One provision of the UCC is the Statute of Frauds. Hot Coffee (a fictional Florida corporation) entered into a $1,000 contract for the sale of their mugs to an independent grocery store called Foods ‘r’ Us. Are there any specific requirements for Hot Coffee’s contract based on the Statute of Frauds? In your assignment: Summarize the Statute of Frauds Discuss what, if any, the...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT