Asked by
Isabella Speed
on Nov 28, 2024Verified
Building Company adds a shipping dock to the property of Corporate Complex, but the owner does not pay. Building files a lien on Corporate's property. The property
A) can be held to guarantee payment of the debt.
B) must be sold to provide payment of the debt.
C) must be returned to the debtor within a certain period of time.
D) none of the choices.
Shipping Dock
A platform situated at the edge of a warehouse or facility where goods are loaded onto or unloaded from vehicles or ships.
Guarantee Payment
A promise or assurance, typically by a third party, to assume responsibility for another's debt or obligation if they fail to fulfill it.
Lien
A legal right or interest that a lender or service provider has on another's property, until a debt relating to that property is paid in full.
- Learn about the utility and impact of liens in ensuring the fulfillment of debts.
Verified Answer
AF
Learning Objectives
- Learn about the utility and impact of liens in ensuring the fulfillment of debts.