Bảo hiểm & Quyền cầm giữCâu 1540 / 1632
The 125% bond required to accompany a stop payment notice served on a construction LENDER exists to:
a.Satisfy the surety requirement that CSLB imposes on every licensee
b.Protect the lender's costs if the withheld claim proves invalid
c.Guarantee the claimant's recovery if the borrower later defaults
d.Substitute for the preliminary notice the claimant failed to serve
Giải thích
Civil Code §8532 makes the bond the price of forcing a lender, a stranger to the dispute, to freeze loan funds: if the claim turns out to be bad, the bond answers the lender's resulting damages and costs. (a) confuses it with the §7071.6 license bond, which is a licensing condition unrelated to any project. (c) reverses the beneficiary — the bond protects the lender against the claimant, not the claimant against the borrower. (d) is the misconception that a bond can cure a missed notice; it cannot, and a claimant who never noticed the lender has nothing to serve.
Trích dẫn luật: Civil Code §8532Luyện miễn phí toàn bộ 1632 câu hỏi — không cần đăng ký.
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Câu hỏi liên quan cùng chủ đề
- A sole-owner contractor holding only a Class B license, with no employees, wants to avoid carrying workers' compensation. Under B&P §7125 as it reads until January 1, 2028, the contractor may:
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Người kiểm duyệt Abraham Chen — Licensed California General Contractor (CSLB License #1101856 — kiểm tra)