To secure a loan of $100,000 from a bank, the owner in fee simple of a parcel of land conveyed a deed of trust for the land to the bank. The deed of trust contained a “power of sale” clause, permitted by the jurisdiction, which allowed the bank to sell the property in the event of default without the necessity of a judicial foreclosure action. After several years, the owner defaulted on his loan payments to the bank. The bank informed the owner that it was exercising its power of sale. After appropriate notices, the bank conducted a public sale of the land. The bank was the sole bidder and obtained the property for $80,000, which was $10,000 less than the outstanding balance on the loan plus the expenses of the sale. One month later, the owner notified the bank that he wanted to pay off the loan and extinguish the deed of trust, and was prepared to tender $80,000 to do so. The bank insisted that the owner must tender $90,000 to pay off the loan. If a court in the jurisdiction will require the bank to accept only $80,000 under the circumstances above, what is the likely reason?

A cyclist was injured when a driver ran a red light. The cyclist subsequently sued the driver to recover for her injuries, and obtained a money judgment of $50,000. The state where the cyclist and the driver reside has the following statute: “Any judgment properly filed shall, for 10 years from filing, be a lien on the real property then owned or subsequently acquired by any person against whom the judgment is rendered.” The cyclist filed the judgment in the county where the driver owned a valuable ranch. Sometime later, the driver, who was also injured in the accident, undertook to remodel all the buildings on the ranch to make them wheelchair-accessible. The driver borrowed $30,000 from a bank for the improvements, securing the loan with a mortgage on the ranch. The bank properly recorded its mortgage. Before he paid any principal on the bank’s loan, the driver decided to build a new barn. He borrowed $20,000 from a financing company for this purpose, also secured by a mortgage on the ranch. The financing company properly recorded its mortgage. The driver subsequently defaulted on the bank’s mortgage, and the bank brought a foreclosure action, joining the financing company in the proceeding. The foreclosure sale resulted in $90,000 in proceeds after all expenses and fees were paid. The driver still owes the cyclist $50,000, the bank $30,000, and the financing company $20,000. How should the foreclosure proceeds be distributed?

Which of the following explanations accurately explains positive dromotropic effect?

An owner obtained a loan of $60,000 from a bank in exchange for a promissory note secured by a mortgage on his land, which the bank promptly and properly recorded. A few months later, the owner obtained another loan of $60,000 from a lender, in exchange for a promissory note secured by a mortgage on the land, which the lender promptly and properly recorded. Subsequently, the owner sold the land to a buyer for $150,000 and conveyed a warranty deed. The buyer expressly agreed with the owner to assume both mortgages, with the consent of the bank and the lender. A few years later, the bank loaned the buyer an additional $50,000 in exchange for an increase in the interest rate and principal amount of its mortgage on the land. At that time, the balance on the original loan from the bank was $50,000. Shortly thereafter, the buyer stopped making payments on both mortgages and disappeared. After proper notice to all appropriate parties, the bank instituted a foreclosure action on its mortgage, and purchased the property at the foreclosure sale. At that time the principal balance on the lender’s mortgage loan was $50,000. After fees and expenses, the proceeds from the foreclosure sale totaled $80,000. Assuming that the jurisdiction permits deficiency judgments, which of the following statements is most accurate?

Doug and Harper signed a purchase agreement for the sale of Harper’s house for $350,000, agreeing to close the following month. One week before closing, Doug and Harper met at a restaurant to discuss a few open issues. As luck would have it, they were both instantly killed when a plane crashed into the restaurant. Doug’s will left all of his real property to his son Carl and all of his personal property to his daughter Miah. Harper’s will left all of his real property to his wife Zoie and all of his personal property to his uncle Brandon. This jurisdiction is applies the common law doctrine of equitable conversion. Which of the following is correct?

A buyer entered into a contract with a seller to buy a parcel of land for $40,000. Although the buyer was expecting to receive a large inheritance in a few weeks, he had very limited funds on hand and was able to personally finance only $10,000. To cover the remaining balance, the buyer obtained a loan from the seller for $30,000, giving the seller a nonnegotiable promissory note in that amount secured by a mortgage on the land and orally promising to pay the seller in full when he received his inheritance money. A few weeks later, the seller transferred possession of the mortgage note to an investor for $25,000 without informing the buyer. The next day, the seller received a check from the buyer in the amount of $30,000. A few days later, the seller left the country with the $65,000 she had made on the sale of the land. Which of the following correctly states the investor’s rights against the buyer?

Which term describes a sudden drop in blood pressure when a person stands up?

Victor and Zelda owned adjacent undeveloped lots on a hillside.  Victor owned the uphill lot, which enjoyed a sweeping view of the surrounding countryside, while Zelda owned the downhill lot.  Victor wanted to protect the view from the home which he planned to build on his lot.  Accordingly, he paid Zelda $10,000 in return for her agreement to the following restriction:  “Zelda agrees, on behalf of her successors, heirs, and assigns, that no structure higher than fifteen (15) feet shall ever be erected or placed on her lot and that the benefit of this agreement will inure to the benefit of Victor, his successors, heirs, and assigns.”  The agreement was signed by Zelda, complied with the Statute of Frauds, and was recorded.  Victor built a lovely house on his lot, which he later sold to Sara.  Zelda then built a house on her lot which was 40 feet high, entirely blocking the view from Sara’s house.  Sara sued Zelda for damages on the theory that the restriction was a real covenant.  Who will win the lawsuit?

Which term describes an increase in heart rate?

A retiree purchased a rustic cabin on a small plot of land near the center of a landowner’s large parcel of land. The deed to the land, which the landowner delivered to the retiree for fair consideration, did not specifically grant an easement over the landowner’s property to reach the public highway bordering her land. There were two means of access to the cabin from the public roads: a driveway from the county road on the south, and a private road from the highway on the east. The landowner told the retiree that he could use the private road from the highway. Twice during his first two years at the cabin, the retiree took the driveway from the county road instead; at all other times he used the private road. At the end of his second year at the cabin, the retiree began reading tarot cards to supplement his retirement income. He had a steady stream of clients coming to his home at all hours of the day and night. Most of the clients came in on the driveway from the county road, which ran close to the landowner’s home. The landowner objected, and told the retiree that neither he nor his clients had any right to use that driveway and that they must use the private road from the highway. The retiree refused, and he and his clients continued to use the driveway from the county road for three years. Finally, the landowner began blocking off the driveway from the county road. The retiree brought suit to enjoin this practice. The prescriptive period in this jurisdiction is five years. Who will most likely prevail?