Evaluate the “hierarchy,” jurisdiction, and age of the authorities.
The facts for the first assignment are as follow: In 2009, Mr. Smith purchased a principal residence for $1,500,000. He made a down payment of $300,000 and financed the remainder by borrowing $1,200,000 through a loan secured by the residence. In 2009, Mr. Smith paid interest that accrued on the indebtedness during that year. He […]