Conflict between two people is called ________ conflict

A seller sold a property without disclosing that a third party might have a valid claim to the property. Has marketable title been conveyed by the seller?

A. Yes, all claims are canceled at closing. B. Yes, the third party did not claim ownership at the time of transfer. C. No, because there is a potential cloud on the title. D. No, the seller violated the Statute of Frauds.

Exhibit 9-3 John Company includes three coupons in each package of cookies it sells. In exchange for 20 coupons, a customer will receive a cookie sheet. John estimates that 30% of the coupons will be redeemed. In 2016, John sold 4,000,000 boxes of cookies and purchased 150,000 Cookie sheets at $2.50 each. During the year, 970,000 coupons were redeemed. ? Refer to Exhibit 9-3. What amount should

John record as premium expense for 2016? A) $121,250 B) $450,000 C) $375,000 D) $500,000