Question
Ana wished to raise additional capital for her business and borrowed $10,000 from her grandfather, Mr. Samson in January 2023. Ana promised Mr. Samson that
Ana wished to raise additional capital for her business and borrowed $10,000 from her grandfather, Mr. Samson in January 2023. Ana promised Mr. Samson that she would pay back the loan. Ana and Mr. Samson agreed that Ana would pay back the loan by monthly installments.
Then Ana borrowed $50,000 from Cameron by way of a mortgage using Anas land Blackacre. Cameron registered the $50,000 mortgage against the title of Blackacre in February 2023.
Anas business failed and Ana was not able to pay Mr. Samson or Cameron. Ana did not have any other asset. Advise Mr. Samson of his rights (if any). Please define or explain any legal concepts you use.
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