In 1967 Owen held Blackacre, a tract of land, in fee simple absolute. In that year he executed and delivered to Price a quitclaim deed which purported to release and quitclaim to Price all of the right, title, and interest of Owen in Blackacre. Price accepted the quitclaim and placed the deed in his safe deposit box. Owen was indebted to Crider in the amount of $35,000. In September 1971, Owen executed and delivered to Crider a warranty deed, purporting to convey the fee simple to Blackacre, in exchange for a full release of the debt he owed to Crider. Crider immediately recorded his deed. In December 1971, Price caused his quitclaim deed to Blackacre to be recorded and notified Crider that he (Price) claimed title. Assume that there is no evidence of occupancy of Blackacre and assume, further, that the jurisdiction where Blackacre is situated has a recording statute which requires good faith and value as elements of the junior claimant's priority. Which of the following is the best comment concerning the conflicting claims of Price and Crider?
Price cannot succeed, because the quitclaim through which he claims prevents him from being bona fide (in good faith).  The outcome will turn on the view taken as to whether Crider paid value within the meaning of the statute requiring this element. The outcome will turn on whether Price paid value (a fact not given in the statement). Price's failure to record until December 1971 estops him from asserting title against Cride