Bảo hiểm & Quyền cầm giữCâu 1508 / 1605
Compared to a mechanics lien, a key ADVANTAGE of a stop payment notice for a lower-tier claimant is that it:
a.Never requires a bond
b.Automatically doubles the recovery amount
c.Reaches undisbursed construction funds and can be pursued without foreclosing on the owner's real property
d.Requires no preliminary notice
Giải thích
A stop payment notice reaches undisbursed construction funds held by the owner or lender, avoiding a foreclosure suit against the real property. It generally still requires a valid preliminary notice, and a stop notice to a lender requires a 125% bond, but it offers a distinct fund-based remedy.
Trích dẫn luật: Civ. Code §8500Luyện miễn phí toàn bộ 1605 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- A subcontractor recorded a mechanics lien but never served a copy on the owner and did not attach a proof of service affidavit. The likely result is:
- A subcontractor asks to be added as an 'additional insured' on the general contractor's CGL policy. From a risk-management standpoint, this request is:
- Which best describes who must carry workers' compensation insurance?
- A certificate of insurance lists a policy that the insurer canceled the following week. If the certificate says coverage is effective for the full year, the certificate holder's coverage is:
- On a private single-family remodel with no notice of completion recorded, the owner occupies the home and all labor stops. The 90-day lien clock for claimants runs from:
- The main reason an owner requires the general contractor to furnish BOTH a performance bond and a payment bond is to:
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Người kiểm duyệt Abraham Chen — Licensed California General Contractor (CSLB License #1101856 — kiểm tra)