What rights does stephens have in the proceeds

Assignment Help Business Law and Ethics

Reference no: EM131389721

Peter Diamond owed Carter $500,000 secured by a first mortgage on Diamond's plant and land. Stephens was a surety on this obligation in the amount of $250,000. After Diamond defaulted on the debt, Carter demanded and received payment of $250,000 from Stephens.

Carter then foreclosed upon the mortgage and sold the property for $375,000. What rights, if any, does Stephens have in the proceeds from the sale of the property?

Reference no: EM131389721

Questions Cloud

What defenses are available to paula and scott : Paula refuses to make any payments due on the car. Carey proceeds against Paula and Scott. What defenses, if any, are available to Paula and Scott?

Calculate the net present value npv of the investment : Calculate the net present value NPV of the investment. Calculate the discounted payback period for investment. Prepare a memo that summarizes your calculations and makes a recommendation regarding this investment.

Conception of environment-competitiveness relationship : "Toward a New Conception of the Environment-Competitiveness Relationship," please select an example that demonstrates their conclusion that "the power of innovation in technology to change old assumptions about resource availability and utilization."

What is the profit maximizing rate of output for the firm : The price of jeans in a perfectly competitive market is NOW $13. Costs are STILL as follows: Quantity 0 1 2 3 4 5 6 7 8 9 10 Total Cost 10 17 26 37 50 65 82 101 122 145 170 1. What is the profit maximizing rate of output for the firm? What is the pro..

What rights does stephens have in the proceeds : Carter then foreclosed upon the mortgage and sold the property for $375,000. What rights, if any, does Stephens have in the proceeds from the sale of the property?

Is this device p channel or n channel : Plot the transfer characteristic curve using the data from part (b).

What is the unemployment rate in this economy : Suppose the layoff rate is 0.02 per month and the average duration of a spell of unemployment is four and a half months. What is the unemployment rate in this economy?

Describe the key types of survey you would focus : FLR2722 Diploma in Marine Surveying Assignment. Describe the key types of survey you would focus on for your business, explaining the particular skills you would have to carry out this work

What are coles rights against stafford surety co : Stafford was paid a premium by Preston to serve as surety. Preston defaults on the obligation. What are Cole's rights against Stafford Surety Co.?

User Account

All Pages