Which One of the Following Is False with Respect to the Builders

question 3

Multiple Choice

Which one of the following is false with respect to the Builders' Lien Act?

• A) The lien claim is required to be filed at the appropriate registry in order to establish a claim against the property.
• B) If a lien claimant files his lien within the time set, he can be assured that he will collect the full amount of his claim.
• C) The Builders' Lien Act gives some protection for those in the building trades, and these include contractors, subcontractors, workers, and materialmen.
• D) If a lien claimant loses the right to file a lien, he still has the right to sue the party who failed to pay him for breach of contract.
• E) A lien claimant has a limited period of time from filing his lien within which to begin his court action.

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Definitions:

Gadgets

Small electronic or mechanical devices or tools that are innovative and designed for a particular purpose.

Significant Quantities

Items or entities in considerable amounts that are large enough to warrant attention or impact assessment.

Inventory

Inventory refers to the goods and materials that a business holds for the ultimate goal of resale or processing, including raw materials, work-in-progress, and finished goods.

Manufacturing

The process of converting raw materials or components into finished goods through the use of tools, machinery, and labor.