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

question 98

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:

Consent Decree

A legal agreement that resolves a dispute between two parties without admission of guilt (but with the court still having jurisdiction).

Cease and Desist Order

A legal order issued by a government authority or court directing an individual or entity to stop an alleged illegal activity.

Misleading Advertisement

Marketing materials that deceive or mislead consumers about the nature or value of a product.

Federal Consumer Credit Protection Act

A United States law enacted in 1968 aimed at protecting consumers in financial transactions by requiring clear disclosure of terms and costs of credit and establishing consumer rights regarding credit billing and electronic fund transfers.