.Two friends planned to incorporate a business together and agreed that they would own all of the corporation's stock in equal proportion.
A businesswoman conveyed land by a warranty deed to "the corporation and its successors and assigns." The deed was recorded.
Thereafter, the friends had a disagreement. No papers were ever filed to incorporate the business.
There is no applicable statute.
Who owns the land?
A. The businesswoman, because the deed was a warranty deed.
B. The businesswoman, because the deed was void.
C. The two friends as tenants in common, because they intended to own the corporation's stock in equal proportion.
D. The two friends as tenants in common, because they were the intended sole shareholders.