Which of the Following Was the Result in Flynn Builders

question 63

Multiple Choice

Which of the following was the result in Flynn Builders, L.C. v. Lande, the case in the text in which the plaintiff filed a mechanics lien in connection with a dispute involving payment for unpaid bills related to the construction of the new home?

• A) The Iowa Supreme Court upheld the decision of the lower courts that Flynn had substantially completed the work and was entitled to a judgement against the Landes.
• B) That Flynn had not completed any of the work on the home and was not entitled to the judgement.
• C) The Iowa Supreme Court upheld the decision of the lower courts that Flynn had not substantially completed the work on the home and was not entitled to a judgement against the Landes.
• D) The Iowa Supreme Court reversed the decision of the lower courts that Flynn had substantially completed the work on the home and was not entitled to a judgement against the Landes.
• E) The Iowa Supreme Court reversed the decision of the lower courts that Flynn had not substantially completed the work on the home and was entitled to a judgement against the Landes.

---

Definitions:

Foreign Subsidiary

A company that is partially or wholly owned but controlled by a parent company situated in another country.

Australian Parent Company

A company based in Australia that holds controlling interest in one or more subsidiary companies.

Consolidating Financial Statements

The process of combining the financial statements of a parent company with those of its subsidiaries to present as one set of financial statements.

Foreign Currency

Currency used in a country other than the one in which a company operates, affecting financial transactions and statements when converted.