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BrittneyABuell BrittneyABuell
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6 years ago
Brice owns a parcel of land that is encumbered by a mortgage held by the First National Bank. Brice agrees to sell the land to Paul for 50,000. Brice and Paul together go to the First National Bank to discuss the sale and purchase with the banker. Brice, Paul, and the banker sign an agreement stating that Paul will assume the mortgage and that Brice will be discharged from all further liability on the mortgage. In this case:
 A) the bank is a third party donee beneficiary.
  B) the bank can collect from Brice if Paul defaults.
  C) Brice is a third party beneficiary of the agreement between Paul and the bank.
  D) the agreement among the three is a novation.
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ashloashlo
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6 years ago
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BrittneyABuell Author
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6 years ago
Helped a lot
Tim0301
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Yesterday
Thank you, thank you, thank you!
ofsuahasiufhoas
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2 hours ago
Smart ... Thanks!
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