Ngari Borrowed $250 000 from Phoebe

Multiple Choice

Ngari borrowed $250 000 from Phoebe.As security for the repayment of that loan, he created a mortgage over a piece of land called Blackacre.Ngari has repaid part of the loan to Phoebe, but he still owes $150 000.He is unable to repay the outstanding amount.Which of the following statements is TRUE?

A) Ngari has no reason to object to the remedy of foreclosure unless the current market value of Blackacre is more than $250 000.
B) The remedy of foreclosure was created by the courts of law in order to counterbalance the equity of redemption that was created by the courts of equity.
C) Depending upon where Blackacre is located in Canada, Phoebe may not be entitled to exercise the right of foreclosure until after an attempt has been made to sell the property.
D) If the market value of Blackacre is now $300 000, Phoebe is entitled to exercise the remedy of foreclosure, but only if she pays $50 000 to Ngari.
E) The remedy of foreclosure is available only if Blackacre is located in a land titles system jurisdiction.