Respond to the question below with the best knowledge on BUSINESS LAW. make sure the answer has
Question:
Respond to the question below with the best knowledge on BUSINESS LAW. make sure the answer has the following.
The issue identifies by name the area/s of law that is relevant to the problem question and clearly describes the legal problem that must be addressed. |
Rules of Law state the relevant legal principles. The source of authority will be a statute, case law, or a combination of both. |
The analysis considers each legal principle identified in the Rules section and explains its relevance to the facts. It states how each principle can be applied/distinguished to support logical arguments about how the Issue(s) will be resolved. |
The decision is stated and provides an overview of how the arguments in the Analysis section address the Issue(s). |
Brown had been turned down by Paramount Life Insurance company when he tried to obtain a loan to be secured by a mortgage on the house that his wife owned. He then sold the property to his business partner and had his partner arrange for a loan with Paramount to be secured by a mortgage on the property. This mortgage was granted. The problem was that he had not obtained his wife’s consent for the sale but had forged her signature on the documents. Neither the partner nor the insurance company knew this fact when Mr. Brown died. Paramount foreclosed, as it was no longer receiving mortgage payments. Mrs Brown now discovered what her husband had done. She fought the foreclosure action, claiming she was still entitled to the property because of the fraudulent sale. Assuming this took place in a land title jurisdiction, will she be liable for the mortgage payments? What if it were in a jurisdiction with a registration system? Explain in a minimum of 500 words
College Accounting Chapters 1-30
ISBN: 978-0077862398
14th edition
Authors: John Price, M. David Haddock, Michael Farina