Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Wells Fargo obtained a judgment of foreclosure on a house. The total indebtedness stated in the judgment was $ 2 0 7 , 1 4

Wells Fargo obtained a judgment of foreclosure on a house. The total indebtedness stated in the judgment was
$207,141. The foreclosure sale was scheduled for a set time at the Hillsborough County Courthouse. Wells Fargo was
represented by a paralegal, who had attended more than 1,000 similar sales. Wells Fargo's handwritten instruction sheet
informed the paralegal to make one bid at $115,000, the tax-appraised value of the property. Because the first "1" in the
number was close to the "$,"the paralegal misread the bid instruction as $15,000 and opened the bidding at that amount.
Martin, who was attending his first judicial sale, bid $20,000. The county clerk gave ample time for another bid and then
announced "$20,000 going once, $20,000 going twice, sold to Martin. ..." The paralegal screamed, "Stop, I'm sorry, I
made a mistake!" The certificate of sale was issued to Martin. The sale:
Can be set aside based upon duress.
Cannot be set aside.
Can be set aside based upon undue influence.
Can be set aside based upon mistake.
Can be set aside based upon fraud.
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Accounting A Managerial Emphasis

Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav

13th Edition

8120335643, 136126634, 978-0136126638

More Books

Students also viewed these Accounting questions