How are mortgages and deeds of trust related to one another?
A) They are two different methods to give a lender a security interest in real property of the
debtor.
B) Mortgages are used for real property, and deeds of trust are used for personal property.
C) They are two distinct aspects of a security agreement covering real property, both of
which must be present for the security interest to be valid.
D) They are two names for the same instrument, and thus can be used interchangeably.
E) Mortgages are used to create a security agreement covering residential real property, and
deeds of trust are used in connection with commercial real property.
A
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How does the NAFTA seem to increase the international competitiveness of U.S. and Canadian firms?
a) It gives them access to scarce natural resources hitherto unavailable. b) It increases tariff barriers making the North American market less attractive to Asian companies. c) It allows them to take advantage of lower labor costs in Mexico. d) It gives them production bases in South American markets such as Brazil and Argentina.
The percent-of-sales method to prepare a pro forma income statement assumes a firm has no fixed costs. Therefore, the use of the past cost and expense ratios generally tends to ________ profits when sales are increasing
A) accurately predict B) overstate C) understate D) have no effect on