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Question 1

A loan is offered and later there is a change in APR of 0.125%. What will be required to close?

A – an expedited closing

B – a shortened loan term

C – a revised closing disclosure

D – a notification from the Consumer Financial Protection Bureau

Question 2

The buyer is interested in opening a day care center in the city. A large vacant lot near the manufacturing district is available. The city is encouraging more day care and has stated they will happily grant a variance. The buyer’s agent should advise the buyer

A – of the possibility of contamination and suggest the offer be written only subject to a satisfactory environmental report.

B – against such a venture as getting all of the approvals in place will be difficult.

C – to seek a location elsewhere that is already suitably zoned.

D – to write the offer contingent upon a satisfactory environmental report and zoning and planning commission approval.

Question 3

Inspection of a dump site on the property indicates the clean-up will cost approximately $30,000, which you believe to be somewhat highly priced. The prospective buyer accepts the cost and wants to close. Which one of the following is most appropriate?

A – Tell him the estimate of cost for the dump site is unrealistic.

B – Support the buyer’s choice for purchase without question.

C – Be sure the offer includes acknowledgment of all disclosures.

D – Document that you advised against making an offer.

E – Recommend a second estimate from another vendor.

F – Recommend that the seller pay for the cleanup.

Question 4

Ted and Steve bought property together, taking title as joint tenants with right of survivorship. If Ted dies, his interest in the property will transfer to

A – Steve.

B – Ted’s spouse, if he was married.

C – Ted’s heirs.

D – Steve’s heirs.

Question 5

Buyer Jim signs a purchase contract at the asking price with no contingencies and the 30-day closing date as specified by the seller. Seller Tom changes the contract closing date of 40 days and signed the contract. This contract, in its present form, is:

A – Valid with the 30-day closing date, since Buyer Jim met all the terms as originally specified by the seller

B – Valid with the 40-day closing date, since a 10-day extension is not considered material to the contract

C – Invalid since the signed documents do not yet indicated mutually agreed-upon terms

D – Enforceable, since the seller has provided a valid counter-offer

 
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Question 4 Construction Manager at Risk’s right to rely on drawings and specifications furnished by Owner, under implied warranty of design. Coghlin Electrical Contractors, Inc. v. Gilbane Building Company. Supreme Judicial Court of Massachusetts (2015). Summary: Gilbane was the construction manager at risk (CMAR) on a public hospital project. Coghlin Electrical was a subcontractor to Gilbane. According to Coghlin, errors and omissions in the design furnished by the public owner (and prepared by an A/E firm) were a primary cause for labor increases of 49% for the electrical work. Gilbane ultimately pursued recovery from the owner for the losses incurred by the subcontractor. In traditional design-bidbuild construction, the owner presents the contractor with a completed set of drawings and specifications, and impliedly warrants that design against defects. As stated nearly a century ago in United States v. Spearin, “if the contractor is bound to build according to plans and specifications prepared by the owner, the contractor will not be responsible for defects” in the design. In the CMAR project delivery system, however, the CMAR typically has responsibilities with respect to the design, while the A/E is still preparing it. During the design phase, a CMAR typically provides advice, consultation, and commentary regarding the design, and may influence the final design. In this case, the public owner argued that the CMAR’s involvement during the design eliminated the CMAR’s ability to benefit from an implied warranty of the design. (a) Examine CMAR’s position as to whether the firm stands the chance of relieving its obligation under the implied warranty of design as against the public owner. CR(7 marks) (b)Determine as to whether Gilbane Building Company had acted with the Proper Duty of Care during this Project implementation. AP(6 marks) (c) According to Coghlin, errors and omissions in the design furnished by the public owner (and prepared by an A/E firm) were a primary cause for labor increases of 49% for the electrical work. Can Coghlin Electrical Contractors go free in this litigation? AN(7 marks) Question 5 Kindly use the case in question for to answer the following questions (a) Can CMAR be sued for Misrepresentation, explain? CR(7 marks) (b) which of these firms is said to have been Professionally Negligent? CR(6 marks) (c) Can any of the firms actions be quantified as a tortuous act (civil wrong ) or a criminal case, Explain? CR(7 marks)

IT IS TOO LONG BUT PLESE HELP ME WITH A SOLUTION

 
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Consider a supplier order allocation problem under multiple sourcing, where it is required to buy 2000 units of a certain product from three different suppliers. The fixed setup cost (independent of the order quantity), variable cost (unit price), and the maximum capacity of each supplier are given in Table 3.5 (two suppliers offer quantity discounts).

The objective is to minimize the total cost of purchasing (fixed plus variable cost). Formulate this as a linear integer programming problem. You must define all your variables clearly, write out the constraints to be satisfied with a brief explanation of each and develop the objective function.

 
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(From Ravindran et al. 1987) A company manufactures three products A, B, and C. Each unit of product A requires 1 hour of engineering service, 10 hours of direct labor, and 3 pounds of material. Producing one unit of product B requires 2 hours of engineering, 4 hours of direct labor, and 2 pounds of material. Each unit of product C requires 1 hour of engineering, 5 hours of direct labor, and 1 pound of material. There are 100 hours of engineering, 700 hours of direct labor, and 400 pounds of materials available. The cost of production is a nonlinear function of the quantity produced as shown in Table 3.6. Given the unit selling prices of products A, B, and C as $12, $9 and $7, respectively, formulate a linear mixed integer program to determine the optimal production schedule that will maximize the total profit.

(From Ravindran et al. 1987) A company manufactures three products A, B, and C. Each unit of product...-1

(From Ravindran et al. 1987) A company manufactures three products A, B, and C. Each unit of product...-2

 
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