An Unlicensed Contractor Who Performs Services Is Entitled to Payment

question 41

True/False

An unlicensed contractor who performs services is entitled to payment for his services even if the licensing statute in question is regulatory in nature.

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Definitions:

Payment Maturity

The date on which a financial obligation must be repaid in full.

Note Issuance

Note issuance involves the creation and offering of a promissory note, a financial instrument wherein the issuer promises to pay a specific amount to the holder on demand or at a future date.

Estimable Liability

A financial obligation or debt that can be measured or estimated with a reasonable level of accuracy.

Probable Likelihood

A high chance or probability that an event will occur.