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Kenneth Smith obtained a second home equity line of credit and forged the signature of his wife, Sue-Anna Smith, on the loan documents submitted to the bank. Several years later, Sue-Anna filed for divorce and alleged that the home equity loan was obtained through fraud. To resolve the divorce litigation, the state court entered a series of orders dividing the property and obligations of each party. The order included a provision that after 12 months, it would be Sue-Anna's responsibility to make payments on the home equity loan and sell the property, from which she would receive the proceeds. Sue-Anna made payments on the home equity loan after the 12-month period. She then contacted the bank and told them that the loan had been fraudulently obtained. The bank was unable to complete a fraud investigation, because Sue-Anna failed to provide a copy of the police report. The bank then offered Sue-Anna the opportunity to modify the terms of the loan, which she accepted. Despite her knowledge of the forgery, Sue-Anna signed the modification agreement and continued making payments as modified by the agreement. The modification agreement also listed Sue-Anna as the sole borrower. After declaring bankruptcy, Sue-Anna sought to invalidate the home equity loan contract on the grounds that her signature was fraudulently obtained. How should the court rule on the case?
Bennington Industrial Machines issued 144,000 zero coupon bonds five years ago. The bonds originally had 30 years to maturity with a yield to maturity of 7.4 percent. Interest rates have recently increased, and the bonds now have a yield to maturity ..
Discuss the mathematics of portfolio risk by looking at return, variance, coefficient, and standard deviation. Explain the difference between systematic risk and un-systemic risk. Can a financial professional ever rid a portfolio of systematic risk? ..
Reconsider the Fingroup Fund in the previous problem. what is the portfolio turnover rate?
Under a qualified domestic relations order (QDRO)
Jackson Corporation's bonds have 5 years remaining to maturity. Interest is paid annually, the bonds have a $1,000 par value, and the coupon interest rate is 11%. The bonds have a yield to maturity of 8%. What is the current market price of these bon..
Over the past few years, the number of start-up companies attracted to either doing business themselves in the cloud, or specifically creating applications for others to use in the cloud, has grown significantly. one of your new board members is very..
The company had paid a regular cash dividend to its stockholders for over 50 years. In its most current operating year, the company experienced a severe cash flow crisis and would be unable to pay its dividend without having to borrow the money.
A stock has an expected return of 8 percent, its beta is 0.85, and the risk-free rate is 3.6 percent. What must the expected return on the market be?
Seven in ten students attending publicly funded universities leave the state after graduation, indicating that a very large fraction of states' investments in human capital bears fruit elsewhere.- Why might states still play such a large role in h..
You are a claims specialist for YYZ Insurance Company and your policyholder has purchased a trampoline to be placed in their backyard. They tell the neighbor’s kids they cannot use the trampoline, but while the policyholder was on vacation one of the..
Assume that you have 40 years until retirement and have just started your first job. Once you retire, you anticipate that you will live for 30 additional years. Assume that you will require $100,000 per year to support yourself in retirement. Assume ..
It is very difficult for investors to remove their exposure to unsystematic risk. It is very easy for investors to remove their exposure to systematic risk. You are presented with 4 distinct investment opportunities involving a Treasury Bill, a Treas..
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