Diego Performs a Contract with Elwood to Add a Swimming

question 13

Multiple Choice

Diego performs a contract with Elwood to add a swimming pool to Elwood's property,but Elwood does not pay.Diego can file a lien on Elwood's property if,from the last date labor or materials were provided,he acts

• A)immediately.
• B)within 60 to 120 days.
• C)within two years.
• D)within a reasonable time.

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Definitions:

Credit Card

A payment card issued by a financial company giving the holder an option to borrow funds, typically at point of sale.

Factor

A finance company or bank that buys receivables from businesses and then collects the payments directly from the customers.

Receivables

Receivables are amounts of money owed to a company by its customers or other parties for goods or services provided on credit.

Service Charge

A Service Charge is a fee collected to pay for services related to a primary product or service, such as handling fees, maintenance, or repair services.