The party who purchases a surety bond and whose performance is guaranteed is called the:
a.Beneficiary
b.Principal
c.Obligee
d.Surety
Giải thích
In a surety bond, the principal is the party whose obligation is guaranteed (e.g., the contractor). The obligee is the party protected (e.g., the owner or public agency), and the surety is the company issuing the bond and guaranteeing the principal's performance.
Luyện miễn phí toàn bộ 1632 câu hỏi — không cần đăng ký.
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Câu hỏi liên quan cùng chủ đề
- To be effective, a Notice of Non-Responsibility must generally be posted on the property and recorded within how many days after the owner obtains knowledge of the work of improvement?
- Which event does NOT constitute 'completion' of a work of improvement for purposes of starting mechanics lien deadlines on a private project?
- A 'notice of cessation' may be recorded by an owner when labor has ceased on the work of improvement for a continuous period of at least:
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- An owner or contractor who wants to remove a recorded mechanics lien from title while still disputing the claim may record a:
- The 20 days for serving a preliminary notice run from the date the claimant:
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Đội ngũ PrepPass · Đối chiếu với California CSLB Contractor License Law & Business Exam · Quy trình kiểm tra
Người kiểm duyệt Abraham Chen — Licensed California General Contractor (CSLB License #1101856 — kiểm tra)