Question: Can u please help me answer this questions? Thank you 10. Delta Corp. leased 60,000 square feet in an office building from Tanner under a

Can u please help me answer this questions? Thank you
10. Delta Corp. leased 60,000 square feet in an office building from Tanner under a written 25-year lease. Which of the following statements is correct? a. Tanner's death will terminate the lease and Delta will be able to recover any resulting damages from Tanner's estate. b. Tanner's sale of the office building will terminate the lease unless both Delta and the buyer con- sented to the assumption of the lease by the buyer. c. In the absence of a provision in the lease to the contrary, Delta does not need Tanner's consent to assign the lease to another party. d. In the absence of a provision in the lease to the contrary, Delta would need Tanner's consent to enter into a sublease with another party. (5/90, Law, #54, 8028) 11. A tenant renting an apartment under a three- year written lease that does not contain any specific restrictions may be evicted for a. Counterfeiting money in the apartment b. Keeping a dog in the apartment C. Failing to maintain a liability insurance policy on the apartment d. Making structural repairs to the apartment (5/90, Law, #53, 8029) 12. In general, which of the following statements is correct with respect to a real estate mortgage? a. The mortgage may not be given to secure an antecedent debt. b. The mortgage must contain the actual amount of the underlying debt. C. The mortgage must be signed by both the mort- gagor (borrower) and mortgagee (lender). d. The mortgagee may assign the mortgage to a third party without the mortgagor's consent. (5/93, Law, #55, 4023) 13. Rich purchased property from Sklar for $200,000. Rich obtained a $150,000 loan from Marsh Bank to finance the purchase, executing a promissory note and a mortgage. By recording the mortgage, Marsh protects its a. Rights against Rich under the promissory note b. Rights against the claims of subsequent bona fide purchasers for value c. Priority against a previously filed real estate tax lien on the property d. Priority against all parties having earlier claims to the property (11/95, Law, #55, 5924) 14. Which of the following statements correctly describes the requirement of insurable interest relat- ing to property insurance? An insurable interest a. Must exist when any loss occurs b. Must exist when the policy is issued and when any loss occurs C. Is created only when the property is owned in fee simple d. is created only when the property is owned by an individual (11/95, Law, #60, 5929) 15. One of the primary purposes of including a coinsurance clause in a property insurance policy is to a. Encourage the policyholder to insure the prop- erty for an amount close to its full value b. Make the policyholder responsible for the entire loss caused by some covered perils C. Cause the policyholder to maintain a minimum amount of liability insurance that will increase with inflation d. Require the policyholder to insure the property with only one insurance company (11/90, Law, #57, 0847) 16. A building was purchased for $350,000 and insured under a $300,000 fire insurance policy con- taining an 80% coinsurance clause. Several years later, the building, having a fair market value of $500,000, sustained fire damage of $40,000. What is the amount recoverable from the insurance company? a. $28,000 b. $30,000 c. $32,000 d. $40,000 (R/00, Law, #10, 6975) 17 MNC Corp. bought a building for $300,000 At the same time, MNC purchased a $200,000 fire insurance policy from Building Insurance Co. and a $100,000 fire insurance policy from Property Insur- ance Co. Each policy contained a standard 80% coinsurance clause. Three years later, when the building had a fair market value of $400,000, the building was totally destroyed in a fire. What amount would MNC recover from the two insurance compa- nies? a. $240,000 b. $300,000 C. $320,000 d. $400,000 (R/03, REG, A0117L, #4,7646)Step by Step Solution
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