The Sellers Transfer Disclosure Statement allows the selling broker to:
a. make a visual inspection of the property and report all pertinent facts.
b. make a visual inspection of all inaccessible areas.
c. to get out of the transaction if he decides to do so.
d. All of the above.
Answer: a. make a visual inspection of the property and report all pertinent facts.
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CN Rail agreed to transport $2 million worth of electronic parts for Sony Inc The CN train derailed and the parts were completely destroyed. The limitation clause in the bill of lading limited CN's liability to $50,000
Sony noticed however that the bill of lading had not been signed. As a result A) CN is fully liable for the $2 million loss as it was negligent B) CN can use the limitation clause and is only liable for $50,000 even though it was not signed C) Sony and CN will share the liability equally because the bill of lading was not signed D) CN can only use the limitation clause if it brought the clause to Sony's attention when the deal was made E) CN can only use the limitation clause if the bill of lading was signed and the clause was brought to Sony's attention
Currency risk is based on what assumption?
A) Firms that do not continuously innovate will lose market share. B) Values of foreign currencies continually rise and fall in most countries. C) Changing product lines by reacting to every current trend may alienate the customer base. D) The value of one dollar today is greater than the value of one dollar to be received one year from now. E) The U.S. stock market fluctuates daily.