A Contract to Build a House Is Deemed Performed When

question 53

Multiple Choice

A contract to build a house is deemed performed when:

• A) there has been substantial performance of the contract.
• B) the house is approved by the city housing inspectors.
• C) the house is approved by the owner's architect.
• D) the house is approved by the owner.

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Definitions:

Unsecured Term Loans

A loan made to an established business that has demonstrated a strong overall credit profile.

Creditworthiness

An assessment of the likelihood that a borrower can repay a loan or financial obligation.

Applicant's Financial Strength

A measure of an applicant's ability to meet financial obligations, often assessed during loan or credit applications.

Capital

Financial assets or the financial value of assets, such as cash and goods, used to start or operate a business.