Bảo hiểm & Quyền cầm giữCâu 1476 / 1632
A 'stop payment notice' (formerly 'stop notice') is a remedy that allows an unpaid claimant to reach:
a.Money the CSLB holds from the contractor's $25,000 license bond
b.The owner's equity in the property, through a forced sale
c.Any bank account the contractor holds, by direct levy
d.Undisbursed construction funds held by the owner or the lender
Giải thích
A stop payment notice under Civil Code §8500 et seq. directs the owner, or a bonded notice directs the construction lender, to withhold money not yet paid out and hold it against the claim; §8534 sets the owner's duty to withhold. (a) confuses two securities — a claim on the §7071.6 license bond is made against the surety, not through a stop payment notice. (b) describes the mechanics lien, which attaches to the property itself; the point of the stop payment notice is that it reaches the money instead. (c) assumes a levy right that only a judgment creditor has.
Trích dẫn luật: Civil Code §8500 et seq. / §8534Luyện miễn phí toàn bộ 1632 câu hỏi — không cần đăng ký.
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Câu hỏi liên quan cùng chủ đề
- A direct contractor who contracted directly with the owner on a private residential project generally must serve a preliminary notice on which party, if any?
- A payment dispute is resolved and the claimant has been paid. What does it record to clear the mechanics lien from the property?
- After recording a mechanics lien, within what period must the claimant file a lawsuit (action) to foreclose the lien, or the lien becomes unenforceable?
- On a private work with a construction lender, for a stop payment notice to bind the LENDER to withhold funds, the claimant generally must:
- On a private commercial project the direct contractor furnishes a payment bond. Its primary purpose is to:
- California law makes which insurance mandatory for a contractor that has employees?
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Người kiểm duyệt Abraham Chen — Licensed California General Contractor (CSLB License #1101856 — kiểm tra)