Which of the Following Is True Regarding a Mechanic's Lien

question 108

Multiple Choice

Which of the following is true regarding a mechanic's lien?

• A) It is a lien filed by a bank that provides a home equity loan for repairs.
• B) It is a lien filed by a credit card company when funds are used for home repairs.
• C) It is a lien filed by a contractor or laborer who has performed work on a home, but has not been paid.
• D) It is not possible for such a lien to result in a property owner paying twice for work.
• E) There is no requirement that a person wishing to assert a mechanic's lien file notice of lien in the county in which the real property is located.

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Definitions:

Product Availability

The status of being in stock and ready for sale to consumers, crucial for maintaining customer satisfaction and business operations.

Total Profits

The entirety of a company's earnings after all operating expenses, taxes, and costs have been deducted from its total revenue.

Varying Price

Implementing a strategy where the price of a product or service is adjusted over time or across markets to optimize sales volume, revenue, or market share.

Asset Value

The monetary worth of physical or intangible property owned by an individual or business.