The transfer of title from grantor to grantee, and from that grantee to a subsequent grantee, and so on, is called

a. a cloud on the title.
b. the chain of title.
c. delivery and acceptance.
d. an acknowledgment.

Answer: b. the chain of title.

Business

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Indicate whether the statement is true or false

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Mark owes $2000 each to his business partners, Ryan, Bryan, and Clark. Since Mark is facing financial difficulties, his business partners agree to accept a total amount of $4800 from Mark as a cancellation of the unpaid balance due to them. This type of an agreement is known as a _____

A) composition of creditors B) writ of certiorari C) forbearance D) promissory estoppel

Business