A[n] ________ Lien Is a Lien That Is Created Solely

question 16

Multiple Choice

A[n] ________ lien is a lien that is created solely through statute, regardless of whether the debtor wishes the lien to be created.

• A) Consensual
• B) Statutory
• C) Judgment
• D) Approved
• E) Evaluated

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Definitions:

Business Contracts

Legally binding agreements between two or more parties that outline the terms of business transactions.

Time Of Payment

The specific date or period as stipulated in a contract by which payment is due to be made.

Delivery

Delivery is the act of transferring an item from one party to another, in the context of sales or transportation, with the intention of passing control or ownership.

Express Warranty

An explicit promise made by a seller about the condition, functionality, or performance of a product.