Frank owns land encumbered by a mortgage securing Frank's note to First National Bank. Frank sold the land to Joyce, who assumed the mortgage. First National Bank is a(n)
D. Unintended beneficiary.
B. Incidental beneficiary.
A. Creditor beneficiary.
C. Donee beneficiary.

Question

12-06-2024
Business

Answered

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Frank owns land encumbered by a mortgage securing Frank's note to First National Bank. Frank sold the land to Joyce, who assumed the mortgage. First National Bank is a(n)
D. Unintended beneficiary.
B. Incidental beneficiary.
A. Creditor beneficiary.
C. Donee beneficiary.

Sagot :

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