The party who purchases a surety bond and whose performance is guaranteed is called the:
a.Beneficiary
b.Principal
c.Obligee
d.Surety
解析
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.
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同考点相关题目
- 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:
- On a bond, the party who is protected and can make a claim if the principal defaults is the:
- 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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审核人 Abraham Chen — Licensed California General Contractor (CSLB License #1101856 — 核实)