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Holt borrowed $80,000 from Andrew and gave him a mortgage on a lot that Holt owned in the city of Savannah. The mortgage was promptly recorded, but the recorder mistakenly listed the debt on the record as $40,000 instead of $80,000. Holt then sought to obtain a loan from Terrell. After examining the county records, which showed a mortgage of only $40,000, Terrell decided to lend Holt the funds he sought and take a junior mortgage. Later Andrew sought to foreclose the first mortgage. Terrell claimed that his junior mortgage gave him priority to proceeds from the foreclosure sale above $40,000. Is he correct? Why or why not?
Aalberts, Robert J.. Real Estate Law (Real Estate Law (Seidel, George)) (Page 313). South-Western College Pub. Kindle Edition.
J. R. vs. Lincoln Terrace Community Hospital, Answer each question discuss the below information, utilizing the case above. Identify the type of law that will govern this case, and discuss
Explain Impact of Sarbanes-Oxley Act
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