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Tamiku [17]
3 years ago
9

A seller sold a house to a buyer allowing the buyer to take over the loan on a "subject to" basis. After 2 years, the buyer defa

ulted on the loan. Who would be liable to the lender for the note?
The Seller would be primarily liable
The Buyer would be primarily liable
Both buyer and seller would be primarily liable
Neither buyer or seller would be primarily liable
Business
1 answer:
lubasha [3.4K]3 years ago
4 0

Answer:

A. The seller would be primarily liable.

Explanation:

Subject to basis is a form of home buying options in real estate. It is a situation where the buyer takes over existing loan of a seller and make commitment to seller to continue repaying the loan to the lender.

Though the buyer will taken over the loan from the seller and make repayment to the lender, there is no legal obligation on buyer`s part that makes him/her liable to the lender. The seller still remain liable despite the the taking over. So  option A is right while B to D is wrong because it`s only the seller that is primarily liable to the lender.

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Sheddon Industries produces two products. The products' identified costs are as follows: Product A Product B Direct materials $
bekas [8.4K]

Answer:

The cost per unit for product B is<em> $ 15 per unit</em>

Explanation:

Only Manufacturing Costs are used in Product Costing. Thus to find the Cost Per Unit of Product B, we Prepare a Manufacturing Cost Summary for Product B.

<u>Step 1 Prepare a Manufacturing Cost Summary for Product B</u>

Direct materials                                                                      $ 15,000

Direct labor                                                                             $24,000

Overhead costs($24,000/$36,000) × $54,000                   $36,000

Total Cost for Product B                                                        $75,000

<u>Step 2 Calculate the Cost Per Unit for Product B</u>

Cost Per Unit = Total Cost / Number of Units Produced

                       =  $75,000 / 5,000 units

                       = $ 15 per unit

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3 0
3 years ago
Read 2 more answers
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A speaker says, "because the japanese make the best stereo sound systems in the world, you should consider buying a japanese-mad
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Francis works for a local fly-fishing shop. The shop allows employees to purchase two fly rods per year at a discount. This year
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The amount of discount that has to be included in Francis's income is 0.

<h3>How to solve for the discount amount</h3>

The amount of the discount - sales price

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Next we solve for the gross profit as

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