Bảo hiểm & Quyền cầm giữCâu 1557 / 1632
After an owner records a lien release bond of 125%, an unpaid subcontractor who wants to be paid must now pursue:
a.The CSLB, which holds the contractor's licence bond for claimants
b.The surety on the release bond, and the bond's principal
c.The construction lender, whose loan funded the improvement work
d.The real property, by foreclosing the lien the bond replaced
Giải thích
Recording a release bond under Civil Code §8424 substitutes the bond for the property, so the claimant's action runs against the surety and the principal rather than against title. (d) is the step the bond was recorded to foreclose, and pursuing it is the error the section exists to prevent. (a) misroutes a claim: the §7071.6 licence bond is claimed against its surety, and the CSLB holds no money. (c) reaches the wrong party — funds in the lender's hands are the target of a bonded stop payment notice, a separate remedy with its own notice conditions.
Trích dẫn luật: Civil Code §8424Luyện miễn phí toàn bộ 1632 câu hỏi — không cần đăng ký.
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Câu hỏi liên quan cùng chủ đề
- A subcontractor who is added as additional insured on NO ONE's policy and carries its own CGL is protected for third-party claims:
- The construction lender must be served with a preliminary notice by a claimant lacking an owner contract primarily so the claimant can later:
- On a public works project, subcontractors generally CANNOT record a mechanics lien against the public property. Their principal payment security instead is the:
- 'Employers' liability' coverage, usually part of a workers' compensation policy, protects the employer against:
- A direct contractor completed a private remodel on March 1. No notice of completion was ever recorded and the owner never occupied. The contractor's last day to record a mechanics lien is approximately:
- Requiring a subcontractor to provide a certificate of insurance BEFORE it starts work is a best practice primarily because it:
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Người kiểm duyệt Abraham Chen — Licensed California General Contractor (CSLB License #1101856 — kiểm tra)