A Surety Bond That Ensures a Property Owner of the Completion

question 38

Multiple Choice

A surety bond that ensures a property owner of the completion of a construction contract or payment of actual damages to the extent of the bond in the event that the contractor fails to complete it is called a _____ bond:

• A) judicial
• B) fidelity
• C) chattel
• D) codicil
• E) performance

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Definitions:

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