Commercial Law, 2011 Bar — Question 67

MULTIPLE CHOICE

X, at Y's request, executed a Real Estate Mortgage (REM) on his (X's) land to secure Y's loan from Z. Z successfully foreclosed the REM when Y defaulted on the loan but half of Y's obligation remained unpaid. May Z sue X to enforce his right to the deficiency? A) Yes, but solidarily with Y. B) Yes, since X's is deemed to warrant that his land would cover the whole obligation. C) No, since it is the buyer at the auction sale who should answer for the deciency. D) No, because X is not Z's debtor.

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