An Artisan's Lien Is a Security Device Created at Statutory

question 59

True/False

An artisan's lien is a security device created at statutory law through which a creditor can recover payment for labor and materials used to increase the value of real property.

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Definitions:

Horizontal Division

The organizational structure that involves dividing a company based on different types of jobs or tasks, leading to departments that are on the same level.

Line Units

Core units or departments in an organization that are directly involved in its primary activities or objectives.

Decentralization

The degree to which the authority to make decisions is given to lower levels in an organization’s hierarchy.

Hierarchy of Authority

A system in organizations where individuals are ranked according to their roles and responsibilities, establishing a clear line of command from top to bottom.