x
Info
x
Warning
x
Danger
 / 
 / 
 / 
MULTIPLE CHOICE QUESTIONS B1.Builders Construction Company performs a contract with Christina

Question : MULTIPLE CHOICE QUESTIONS B1.Builders Construction Company performs a contract with Christina : 1774860

MULTIPLE CHOICE QUESTIONS

B1.Builders Construction Company performs a contract with Christina to add a sun porch to her house, but she does not pay. In most states, Builders Construction could create a lien and place it on Christina’s property by filing

a.acreditor’s composition agreement.

b.a writ of attachment.

c.a writ of execution.

d.awritten notice of lien.

B2.Portia owes Bon $500 on their roof repair contract, but refuses to pay. To collect, Bon files a me¬chanic’s lien. Under a mechanic’s lien, security for the debt is repre-sented by

a.Portia’s personal property.

b.Portia’s real estate.

c.the $500 owed under the contract.

d.the contract.

B3.Lyndon owes $10,000 to Metro Bank. As a prejudgment remedy to collect the debt, Metro could use a writ of

a.contribution.

b.attachment.

c.execution.

d.subrogation.

B4.Refer to Fact Pattern 29-1B. Michael refuses to return the car to Jill until she pays for the brake work. This is

a.agarnishment order.

b.a mechanic’s lien.

c.an artisan’s lien.

d.aviolation of most states’ laws.

B5.Refer to Fact Pattern 29-1B. If Michael imposes a lien on Jill’s car, it will end

a.in thirty days.

b.in sixty days.

c.when Michael voluntarily surrenders possession of the car.

d.when Jill obtains a court order requiring Michael to return the car.

B6.A court awards a judgment to Loan Collection Agency, who is the creditor, against Margret, who is the debtor. After the judgment, the creditor requests a court order to seize Margret’s property to ensure that the judgment will be collectible. This is

a.a judicial lien.

b.a writ of attachment.

c.a writ of execution.

d.aviolation of most state laws.

B7.Ronaldo’s debt to Sofia is past due. Ronaldo obtains a judgment against Sofia to collect the debt, but Sofia will not pay. Ronaldo requests a writ of execution. The property that is seized under the writ of execution must be

a.in Ronaldo’s possession.

b.inSofia’s possession.

c.in the possession of Sofia’s employer or other third party.

d.located within the court’s geographic jurisdiction.

B8.Stanley’s debt to Town Bank is past due. Town Bank obtains a judgment against Stanley to collect the debt, but he refuses to pay. Town Bank asks the court to order Stanley’s employer to pay a portion of his paycheck to the bank. This is a request for

a.a mechanic’s lien.

b.an order of garnishment.

c.an order that would violate most state laws.

d.a writ of attachment.

B9.Georgeborrows funds from Hometown Credit Union (HCU) to buy real property. George signs a written instrument that gives HCU an interest in the property as security for the debt’s payment. This is

a.a mortgage.

b.an artisan’s lien.

c.a workout agreement.

d.a suretyship arrangement.

B10.Ridgeline Bank provides Shirley with a mortgage to buy a home. The rate of interest is fixed for three years and then adjusts annually. This is

a.a fixed-rate mortgage.

b.an adjustable-rate mortgage.

c.a creditor’s composition agreement.

d.a guaranty agreement.

Solution
5 (1 Ratings )

Solved
Law 1 Week Ago 118 Views
This Question has Been Answered!

Related Answers
Unlimited Access Free
Explore More than 2 Million+
  • Textbook Solutions
  • Flashcards
  • Homework Answers
  • Documents
Signup for Instant Access!
Ask an Expert
Our Experts can answer your tough homework and study questions
27301 Law Questions Answered!
Post a Question