What is a general warranty deed?
What will be an ideal response?
A general warranty deed (or grant deed) contains the greatest number of warranties and provides the highest level of protection to a grantee. General warranty deeds are usually used as a deed from a seller to a buyer of real property. In a general warranty deed, the seller warrants that he or she owns the property; that he or she has the legal right to sell it; that the property is not subject to encumbrances (e.g., mortgages), leases, or easements other than those that are disclosed; that his or her title is superior to any other claim of title to the property; that he or she will defend the grantee's title against all other claims; and that he or she will compensate the grantee for any losses suffered if title proves faulty. The guarantee is not limited to the time that the grantor owned the property but extends back to the property's origins. Although the grantor is legally bound to compensate the grantee for losses caused by a breach of warranty, this guarantee is not helpful if the grantor is dead when the breach of warranty is discovered or if the grantor is financially unable to cover the losses.
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The situation that requires a departure from the cost basis of accounting to the lower of cost or market basis in valuing inventory is necessitated by
a. a decline in the value of the inventory. b. an increase in selling price. c. an increase in the value of the inventory. d. a desire for more profit.
The fundamental weakness in the research process is _____.
A. incorrectly defining the research question B. identifying a flawed sampling frame C. misdefining the target population D. failing to identify all relevant secondary information E. skipping the exploratory phase