| Statute law is also known as | legislation |
| Which Court is not an Appellate Court | small claims court |
| The type of law that deals with disputes between 2 or more individuals is known as: | Private Law |
| What are two types of "discovery" and may occur in pre-trial process in BC? | Examination for Discovery and Discovery of Documents |
| The prescribed period of time in which a person has a right to bring an action is known as? | Limitation Period |
| Where a civil wrong is committed a person may initiate an action in BC Supreme Court by filing a? | Notice of civil claim |
| "Let the former decision stand" | stare decisis refers to the following prior. Decisions when the facts are substantially the same. |
| The system of law made up of principles and rules of ancient customs and usages of the people of a nation which have been recognized, affirmed or enforced by the courts is know as the: | Common Law |
| The parties to a proceeding in BC Supreme Court can appeal the decision to the? | BC Court of Appeal |
| Small Claim disputes of $_____ or less relating debt or damages, recovery of personal property, personal injury, or specific performance of agreements involving personal partys or services must be submitted to the _______. | $5000 or less. Civil Resolution Tribunal |
| The 3 potential phrases involving in settling a dispute through civil resolution tribunal are: | Negotiation, Facilitation and adjudication |
| The parties to a civil resolution tribunal strata dispute can appeal to the? | BC Supreme Court |
| (law) a judicial remedy issued in order to prohibit a party from doing or continuing to do a certain activity | Injunction |
| The Civil Resolution Tribunal is tasked with resolving all _____ ____ disputes and certain _____ _____ disputes. | Strata Corporation, Small Claims |
| In law, the term _____ denotes the spirit and habits of fairness, justness and right dealing which would regulate interaction between people. | Equity |
| Small Claims courts have the jurisdiction to deal with most claims of: | 35,000 or less |
| Performing multiple roles in the same transaction or arranging a mortgage for a borrower and funding the same mortgage as a lender are examples of what when a mortgage broker? | conflict of interest |
| Ethical Codes of Conduct have the same force of law and statutes? True or false. | False, most ethical codes of conducts are created by professional associations. Members of those associations must agree to abide by the code of conduct as a condition of membership. |
| The duty of professional courtesy and good faith is a part of the general duty of the __________ | Profession |
| What is the largest voluntary professional organization of mortgage brokers in BC? | The Mortgage Broker's Association of BC |
| The two levels of activity requiring registration under the Mortgage Brokers Act are: | Mortgage Broker and Sub Mortgage Broker |
| The Provincial agency with the authority to administer the Mortgage Broker's Act and Regulation: | Financial Institutions Commission |
| Two types of penalties that a professional organization disciplinary committee could impose on its members? | Reprimand, suspension from membership privileges, a monetary fine, paying for the costs of the disciplinary hearing, expulsion from membership, an order for complete disciplinary education. |
| Only individuals maybe required as submortgage brokers? True or false. | True |
| The Statute that prescribes disclosure to borrowers in the form of a Disclosure Statement, Notice or Statement of Account is known as the? | Business Practices and Consumer Protection Act |
| Ethical Codes of Conduct have the same force of law as Statutes? True or false. | False, Ethical codes of conduct are voluntarily adopted by certain members of the public that have to be part of a professional association Members of the public do not have the choice of voluntarily adopting the obligations contained in the Statutes. |
| A covenant redirecting the use of the land of the coventor (the Serviant tenant) for the benefit of the land belonging to the covenantee (the dominant tenement). An example would be a restricted on the height of a bldg on a piece of land so that the adjacent or adjoining lands are not deprived of a view. | restrictive covenant |
| Historically, one owned this above a parcel of land "to the heavens". Today, it refers to the legal concept that a person who owns lands also owns as much airspace above the land as he or she can effectively use. | Airspace |
| What is a chattel attached to real property; it is anything which has become so attached to the land as to form, in law part of the land. | Fixture |
| A ______ may be enjoyed during the holder's life; however the life estate ends on that person's death. True or false. | Life Estate |
| A life estate ______ _____ ____ is the form of life estate where length of estate is measured against the life of another person. | Pur Autre Vie |
| With respect to real property a __________ is a privilege to enter premises for a certain purpose. This privilege confers upon the licensee a degree of title, interest or estate in such property (eg exclusive right to possession of the property). However it's privilege does not confer upon a licensse any title, interest or estate in such property. Eg include a hotel suite where monthly rates may be available but the innkeeper has the right to enter the suite at his pleasure. | License |
| Articles of personal property (eg car stereo, a tv) as opposed to real property are known as? | Chattels |
| Where two or more persons acquire an interest in a property. | joint tenancy |
| A joint tenancy is where two ore more persons acquire an ________ _____ interest in a property. When one person dies, that person's share automatically goes to the _________ ________ | Equal undivided and surviving joint tenant(s) |
| Fee Simple | Legal term for the maximum interest in land available to a person or the maximum of legal ownership. In many ways, ______ _____ is equivalent to absolute ownership. |
| interests, property, estate | A Tenancy in Common is where 2 or more persons acquire ______ in a single ______ and each may sell or bequeath their interest. Additionally, in the event of death, their interest becomes part of their _______. |
| Support | The right to have one's ground supported so that it will not cave in when an adjoining property owner makes an excavation is known as? |
| The dominent tenement limited use of the servient tenement land | An Easement grants what? |
| Profit a prendre | A right to take the produce or part of the soil from the lands of another lands. |
| Building Scheme | A ___ _____ refers to a group of restrictive covenants attaching to two or more lots with in a particular development plan, and which usually aims at ensuring a certain level of uniformity is maintained within a development. |
| encumbrance | A judgement, mortgage or lien or any other claim which is registered against the title to the land is what? |
| True. | True or False. The dominant tenant is the land to which the benefit of a right is attached. |
| Servient Tenement | The land bearing the burden of an easement or other right (ie restrictive covenant). |
