Contracts & ExecutionQuestion 776 of 1605
On a $3,000 fence job with no joint control, the maximum lawful down payment is:
a.$1,500
b.$600
c.$1,000
d.$300
Explanation
Ten percent of $3,000 is $300, which is less than the $1,000 cap. Because the limit is the lesser of the two, the maximum down payment is $300.
Law Reference: B&P §7159(d)Practice all 1605 questions free — no signup required.
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