The seller agrees to sell the house to the buyer for $100,000. The buyer was unable to qualify for a mortgage loan for this amount so the seller and buyer enter into a contract for deed. The interest the buyer has in the property under a contract for deed is
A) legal title.
B) equitable title.
C) joint title.
D) mortgagee in possession.
Answer: B) equitable title.
Business
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Milton Friedman contended that a business cannot increase its profits while conforming to society's laws and ethical customs.
a. true b. false
Business
A small house is situated n a larger lot in a mixed-use neighborhood. The city decides that the area will, in the future, be zoned commercial. What will most likely happen to the property's value?
A. It will increase, because of the fears of new businesses built nearby B. It will increase in anticipation of the changing uses C. No effect, since the house is a nonconforming use D. No effect, until the change actually occurs
Business