Which of the Following Is the Consequence of an Unpaid

question 132

Multiple Choice

Which of the following is the consequence of an unpaid subcontractor failing to file his lien on time? The owner had contracted with the general contractor who in turn had contracted with this subcontractor.

• A) He would lose his right to place a charge against the owner's property, but he can sue the contractor on the contract.
• B) He can submit documents giving his reason and he will be allowed to file the lien late.
• C) He loses his right to claim against the building but can sue the owner of the property directly.
• D) He will lose all of his remedies.
• E) He will lose his right to place a charge against the owner's property, but he can sue the owner directly for the amount owed him, because his work and materials went into the owner's house.

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Definitions:

Simple Rate Of Return

A calculation that measures the profitability of an investment as the annual incremental net operating income divided by the initial investment cost.

Sales Revenues

The total amount of money generated from the sale of goods or services by a company before any costs or expenses are subtracted.

Cash Operating Expenses

Expenses that a company pays in cash during an accounting period, excluding non-cash expenses such as depreciation.

Net Present Value

A financial metric that calculates the difference between the present value of cash inflows and outflows over a period of time, used in capital budgeting to assess the profitability of an investment.