M 300 Midterm 2

subject Type Homework Help
subject Pages 9
subject Words 1700
subject Authors Marianne M. Jennings

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Change orders require that the contractor be paid additional compensation.
'The land that includes the Wind Song cave' is a sufficient legal description.
A mortgagee (with a properly recorded mortgage) who is obligated to advance future
funds will not have its interest attach until funds are actually given to the mortgagor.
Under Cumulative Zoning, single family residences are permitted in commercial areas.
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An assignment and a sublease are the same thing.
The EPA has developed an incentive program for self-disclosure by companies of
environmental violations.
Dual agency status requires disclosure to both buyer and seller.
A Declaration of Horizontal Property Regime is a Declaration of Condominium.
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"I might sell my house for $188,000" is not an offer.
Just compensation is compensation for the government's gain.
An offer that requires acceptance by FedEx that is accepted by UPS is a counteroffer
and a rejection.
G makes the following grant, "To my daughter so long as she uses the property for
charitable causes." Upon G's death, he leaves all of his property to his daughter. At G's
death, G's daughter's land interest is
a. Fee simple absolute
b. Fee simple determinable
c. Life estate
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d. Fee simple subject to a condition subsequent
e. None of the above
"To the city of Scottsdale for 99 years" is a
a. Fee simple determinable
b. Fee simple subject to a condition subsequent
c. Periodic tenancy
d. Tenancy for years
Tucker Smith wrote a holographic will and signed it. The will provided that 3/4 of his
estate would go to charity and one-fourth would go to his nephew, his only surviving
heir. Tucker's nephew is challenging the will on the grounds that the amount left to the
charity was so large and that there were no witnesses to the will. Which of the following
is correct?
a. Wills by which relatives are largely disinherited are generally void
b. All states require holographic wills to be witnessed
c. Holographic wills are not valid
d. None of the above
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Janice Mack has just been told by Soledad, her solar energy company, that she must
obtain approval of her homeowner's association's Architectural Control Committee
(ACC) before Soledad will install her solar roof panels and system. Janice insists that
the ACC has no power over use of her land. What sources of law would govern her
rights?
a. Private law
b. Janice is correct; her ownership rights trump any laws
c. Judicial decisions
d. Both a and c
e. Both b and c
Commercial properties are exempt from ADA.
A holdover tenant is
a. A tenant at sufferance
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b. A tenant at will
c. Under no obligation to pay rent
d. None of the above
Church expansion approval processes are subject to which standard when reviewed by
the courts?
a. The decisions of zoning boards must be reasonable and grounded in fact
b. The decisions of the zoning boards are subject to strict scrutiny and review
c. The decisions of zoning boards on church expansions are reviewed under the same
standards as all other zoning appeals
d. The decisions of zoning boards on church expansions cannot be appealed
Which of the following would be a parcel of land with 1,600 acres?
a. A township
b. SE-1/4 and the NE-1/4 and the E-1/2 of the SW-1/4 of T2N R1W in Coconino
County
c. SE-1/4 of the SE-1/4 and the S-1/2 of the NE-1/4
d. SE-1/4 and the NE-1/4
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Which of the following sources of law would contain provisions on broker licensing?
a. U.S. Constitution
b. State statutes
c. Federal regulations
d. Municipal ordinances
William and Cynthia agreed, through a written agreement, that in the event that they got
a divorce that William would pay Cynthia $2,400 per month in alimony for the earliest
of either five years had expired or Cynthia had remarried. They signed the agreement
two months before they were married in 1975. In 2004, they were divorced and Cynthia
wanted her $2,400 per month. William says he does not make enough money to pay that
much. Which best describes what the court will do?
a. The court will honor a valid prenup agreement that is voluntarily entered into
b. A prenup cannot cover alimony payments
c. The prenup expires after 20 years of marriage and the court then determines the
parties' rights
d. Remarriage cannot end alimony payments automatically
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G has conveyed "all of my land in Pennsylvania" to A. Is the description sufficient?
Charles E. Williams paid for the purchase and installation of a guttering system for his
home by Hanke Brothers with a Wells Fargo Home Projects Visa card. Under the terms
of this particular Visa card, Williams agreed to pay Wells Fargo a principal amount plus
interest in return for payment for the guttering system by Wells Fargo to Hanke
Brothers. Wells Fargo made payment, and Hanke Brothers then installed the guttering
system. Wells Fargo did not file a financing statement on the guttering system.
Williams defaulted on his mortgage and the mortgage company brought foreclosure
action. Wells Fargo said that it was entitled to the guttering system because it was
personal property purchased with a credit card. The mortgage company maintains that
the failure to file a financing statement means that Wells Fargo is simply an unsecured
creditor as any credit card company would be. Which of the following is correct?
a. Wells Fargo is a PMSI creditor in personal property who is entitled to recover the
cost of the guttering system out of any foreclosure proceedings
b. Wells Fargo is out of luck because of its failure to file a financing statement on a
fixture
c. Wells Fargo is not a PMSI creditor because the debtor financed the guttering
indirectly through the Visa card
d. Wells Fargo is a PMSI creditor but cannot take priority over the mortgage company
because of its failure to file a financing statement
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Nicholas Sharp and Barry and Rhonda Downey own adjacent tracts of land in Howard
County, Maryland. Their two adjacent lots were a single tract of land owned by Jack
Ryan, Inc., the corporate alter ego of John E. Ryan. On February 20, 1996, Ryan
divided the tract by deed, creating Lot 1 and Lot 2. Ryan then conveyed Lot 1 to Pamela
Jekel. On the same date as the conveyance of Lot 1, Ryan and Jekel executed an
easement instrument which gave Ryan access to his Lot 2 over the existing Jeep trail
located on Lot 1. Jack Ryan ended up married to Pamela Jekel and conveyed his lot to
Nicholas Sharp. Pamela Jekel Ryan conveyed her lot to Barry and Rhonda Downey.
Which tract of land would the easement and rights pass through?
a. Lot 1
b. Lot 2
c. Easements and the rights pass with both the dominant and servient tenement
If leased premises violate the building code, what is the effect on the lease agreement?
a. The lease agreement is void
b. There is no effect on the lease agreement
c. The tenant has the right to undertake all repairs
d. None of the above
SIPs must be approved by the EPA.
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Which of the following is a voluntary lien?
a. Tax lien
b. Judgment lien
c. Mortgage
d. None of the above
A mistake on the APR in a disclosure form for a residential loan results in a three-year
right of rescission.
A city zoning ordinance prohibits the construction of a building taller than two stories
in any part of the city. Discuss the validity of the ordinance.
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Profits are easements with a right of removal.
Name the types of interests subject to the Rule Against Perpetuities.
The failure to refile a financing statement after 5 years from the original filing does not
affect the creditor's priority.
Discuss the differences in the creation and operation of the fee simple determinable and
fee simple subject to a condition subsequent.
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What is the definition of a ready, willing and able buyer?

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