Profits Sportz Successful Pop Rock Album Make Payment Isolated Ranch Arrange Construction Q29549416
With the profits from Sportz!, a successful pop-rock album, youmake a down payment on an isolated ranch on which you arrange forthe construction of a sports park. The park includes grassy fieldsand paved courts, indoor and outdoor pools, and skate and bikeramps and trails. The property is subject to a loan from TitanBank. Five years later, after two unsuccessful albums, you find itdifficult to make payments on the loan. You offer the property toUnited Funds, LLC., a group of local investors, who accept. Unitedassumes the loan and Titan releases you. What is the transactionbetween United, Titan, and you? Explain.
Leave a Reply
Want to join the discussion?Feel free to contribute!