Which of the Following Is the Consequence of an Unpaid

question 74

Multiple Choice

Which of the following is the consequence of an unpaid subcontractor failing to file his lien on time? The owner had contracted with the general contractor who in turn had contracted with this subcontractor.

• A) He can submit documents giving his reason and he will be allowed to file the lien late.
• B) He will lose all of his remedies.
• C) He will lose his right to place a charge against the owner's property, but he can sue the owner directly for the amount owed him, because his work and materials went into the owner's house.
• D) He would lose his right to place a charge against the owner's property, but he can sue the contractor on the contract.
• E) He loses his right to claim against the building but can sue the owner of the property directly.

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Definitions:

Deficit Financing

Deficit financing refers to the practice where a government borrows money to cover a gap between its spending and revenues, often leading to an increase in public debt.

Tax Policy

Involves the government decisions about what to tax, how much to tax, and on whom the taxes are levied, influencing the economy and distribution of resources.

Supply-Side

Supply-Side economics is a macroeconomic theory arguing that economic growth can be most effectively created by lowering taxes and decreasing regulation to increase the supply of goods and services.

Economic Schools

Economic schools of thought are different approaches or theories economists use to understand, analyze, and predict economic phenomena, each with its own assumptions and methodologies.