A release clause in a note and deed of trust is activated by a.​the full satisfaction of the terms of the loan. b.​the reconveying of the property to the trustee. c.​the foreclosure on the property. d.​the conveying of title to the trustee.

Exercise Content  Please provide a brief answer to each of the following questions:   1. What is the warranty of merchantability?   2. What is the warranty of fitness for a particular purpose?   3. What is a disclaimer?   4. What are the different ways in which personal property can be obtained?   5. What is abandonment?    6. What is a bailment?

A note secured by a deed of trust provides for an automatic action of the laws known as a.​a strict foreclosure. b.​equitable rights. c.​a power of sale. d.​a statutory right.

Which of the following best describes the accounting for discounts and premiums for bonds purchased by a fiduciary for an estate? a. Premiums are amortized, but discounts are not. b. Discounts are amortized, but premiums are not. c. GAAP guidelines for amortization are followed, i.e., both are amortized. d. Like bonds purchased prior to the death, neither discounts nor premiums are amortized.