If a Debtor Does Not Pay a Mechanic's Lien, the Debtor's

question 23

True/False

If a debtor does not pay a mechanic's lien, the debtor's property can be sold to satisfy the debt.

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Definitions:

Principal

The original amount of a debt or investment before interest.

Interest Payments

Periodic payments made to lenders or creditors as compensation for borrowing money, usually calculated as a percentage of the principal amount.

Financial Information

Data related to the financial status or performance of an individual or entity, including balance sheets, income statements, and cash flow statements.

Borne

Borne usually refers to costs or expenses being carried or supported. In business, it means that a party takes on the responsibility for certain expenses.