Which of the Following Is Generally True About State Statutes

question 60

Multiple Choice

Which of the following is generally true about state statutes establishing mechanic's and materialman's liens?

• A)Most of them require the mechanics and the materialmen to sign a deed of trust.
• B)They require that work be done in the performance of a contract to improve real property.
• C)They do not allow subrogation by mechanics and materialmen.
• D)They require mechanics and materialmen to enter into a quasi contract with the contractor.

---

Definitions:

Non-earning Asset

A non-earning asset is an asset that does not produce income or interest for its owner.

Conduct Business

The manner in which a company operates within its chosen marketplace, including its strategies, practices, and procedures.

EOQ

Economic Order Quantity, a formula that determines the ideal order quantity that minimizes total inventory holding costs and ordering costs.

Fixed Ordering Costs

Fixed ordering costs are the expenses that do not change with the quantity of order and typically include things like delivery charges and order processing fees.