Answer and Explanation:
A due on sale clause is simply a stipulation in the mortagage agreement that the
"borrower if he wants to sell the property to some other person, first of all he (borrower) shall repay the entire outstanding mortagage amount and then only it is possible to sell the property which is secured under Mortagage agreement.
Hence in essence, the borrower must repay before selling it to some other person which will result in paying the sale proceeds of house to the lender first and the Borrower again has to take loan sometimes from the same lender.
Hence it is imperative that the mortagage obligation cannot be transferred to any other person. That is any subsequent buyer cannot ASSUME the mortagage. Therefore due on sale
Clause prevents assuming of mortagages.
Answer:
He/She has no property subject to execution.
Explanation:
It is description of a person who doesn't have the assets for the creditor to seize when the court order requires the debt repayment. A broke and unemployed person is judgement proof. The debtor having few legally protected assets and income is also judgement proof. Judgment proof is also called the collection proof and is not permanent. The judgement are valid for many years, the creditors continue to collect whatever the judgement allows even after they have won a lawsuit against a delinquent customer.
Answer:
a. 30 units of corn and 30 units of wheat.
Explanation:
Freedonia:<u><em> (without trade)</em></u>
6 corn x 5 workred = 30 corn
2 wheat x 5 worked = 10
Fredonia <u><em>(with trade)</em></u> will focus on corn only:
6 corn x 10 workers = 60 corn
Then 30 are trade it out, leaving 30 corn
from trade it receives 30 units of wheat
total 30 units of both goods.
Answer:
C) 10%
Explanation:
($144,000 + $12,780)/$36,000 = 4.355
Answer:
The correct option which would not be an expected response from decrease in price level is A) with fall in prices, Fargo concrete company has decided to let go workers who have fixed price contracts.
Explanation:
All the options except A are expected response from the fall in price and helps in explaining why the aggregate demand curve shifted ( towards the right ) . In the option B , Tyler decided to remodel his kitchen because of fall in prices, as now he is able to spend more on consumption and investment activities. Same thing is happening in option C and D as the company's here are increasing their investment spending due to the decreased prices.
But the option A , isn't something that was expected as company's don't usually fire their workers just because they have fixed price wage contract and prices have fallen, company is trying to take advantage of fallen prices by reducing the fixed wage workers and hiring new workers on a cheap wage , which help in reducing the company's cost.
