Eight years ago, Orben, prior to moving to a distant city, conveyed Blackacre, an isolated farm, to his son, Sam, by a quitclaim deed. Sam paid no consideration. Sam, who was 19 years old, without formal education, and without experience in business, took possession of Blackacre and operated the farm but neglected to record his deed. Subsequently, Orben conveyed Blackacre to Fred by warranty deed. Fred, a substantial land and timber promoter, paid valuable consideration for the deed to him. He was unaware of Sam's possession, his quitclaim deed, or his relationship to Orben. Fred promptly and properly recorded his deed and began removing timber from the land. Immediately removing timber from the land. Immediately upon learning of Fred's actions, Sam recorded his deed and brought an appropriate action to enjoin Fred from removing the timber and to quiet title in Sam. The recording act of the jurisdiction provides: "No conveyance or mortgage of real property shall be good against subsequent purchasers for value and without notice unless the same be recorded according to law." In this action, Fred should 
prevail, because a warranty deed for valuable consideration takes priority over a quitclaim deed without consideration.  prevail, because Orben's subsequent conveyance to Fred revoked the gift to Sam.  lose, because Sam's possession charged Fred with notice.  lose, because the equities favor Sam. 