What is the obligation of seller to buyer

Assignment Help Accounting Basics
Reference no: EM132675767

Question - CONDITIONS AND WARRANTIES

In 2014, Seller executed in favor of Buyer a contract to sell a lot. At the time of the execution of the contract, the parties knew that a portion of the lot was occupied by Tenant. It was the understanding of the parties that Tenant would be ejected by Seller from the premises. After the installments were paid, the deed of sale was executed. In 2020, S filed a complaint for ejectment against Tenant, but the court ruled against Seller, owing to a compromise agreement in another case between Seller and X.

Buyer filed an action against Seller to enforce the vendor's warranty against eviction or recover the value of the land. It appears that the compromise agreement with X was sanctioned by the court and the prior right of Tenant to purchase the lot in question was based more on his prior occupancy of the same since 2011 about which Buyer was informed by Seller. The execution of the compromise agreement merely recognized this prior right of Tenant.

Is B entitled to the vendor's warranty against eviction and damages and what is the obligation of Seller to Buyer? Elaborate your answer and use supporting articles to defend answer.

Reference no: EM132675767

Questions Cloud

Study of management decision models : With examples, briefly discuss five reasons why the study of management decision models is important.
Discusses broad context of risk and investigative forensics : Discusses broad context of risk and investigative forensics. Part of risk management is to understand when things go wrong,
How did clorox get itself into the present situation : Of what relevant trends should the Kingsford brand managers be aware? What marketing objectives do you recommend for the Kingsford brand?
Why is having higher sharpe ratio important : Your client asks why you would combine Portfolio (A), which has a lower Sharpe ratio, with Portfolio (B) to arrive at the optimal risky portfolio.
What is the obligation of seller to buyer : CONDITIONS AND WARRANTIES - Is B entitled to the vendor's warranty against eviction and damages and what is the obligation of Seller to Buyer
About server virtualization and cloud computing : You have read about server virtualization and cloud computing in chapter 6 of your textbook.
Which transactions may result in a book-tax difference : Please determine which of the following transactions may result in a book-tax difference and in what amount and explain each of them
UFMFY7-30-3 Decision Modelling Assignment : UFMFY7-30-3 Decision Modelling Assignment Help and Solution, University of the West of England - Assessment Writing Service
Explain how business uses technology : Give a description of the topic and explain how a business uses the technology to improve its processes to become more competitive,

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd