2020 ExamQUESTIONPRIORITIESBeatrice isthe registered proprietor of a freehold estate in St Lucia, Queensland. The property has aregisteredmortgage over the title in favour of West Bank dated 6 April 2019.During the day, Beatrice is a junior lawyer at a boutique city firm. In the evenings, to generate extra cash tosupport her expensive shoe habit, Beatrice works as a Yoga instructor attending various studios across town.In October 2019, tired of working at other people’s Yoga studios, Beatrice decides she will‘go it alone’ and openher own studio in Brisbane’s West End.On 15 November 2019,Beatrice approaches her father, Steve, for a loan of $20,000.On the same day,Steve,being a former solicitor, drafts a short one-page contract which he has signed by Beatrice and witnessed by theirlong-term family friend and neighbour, Peggy.