COSC 463 - Exam 2 Questions With Correct Answers.

COSC 463 - Exam 2 Questions With
Correct Answers
A ||lien: ||- ||CORRECT ||ANSWER✔✔-- ||is ||a ||type ||of ||security ||interest ||created ||by ||statute

- ||provides ||security ||for ||failure ||of ||payment

- ||attaches ||to ||the ||real ||property ||where ||work ||has ||been ||performed ||or ||materials ||were ||
supplied



Lien ||laws ||- ||CORRECT ||ANSWER✔✔-are ||created ||by ||state ||statutes ||and ||vary ||from ||state ||to ||
state



Liens ||and ||bonds ||prevent ||failure ||of ||performance ||by ||parties ||to ||a ||contract. ||- ||CORRECT ||
ANSWER✔✔-FALSE



Lien ||releases ||- ||CORRECT ||ANSWER✔✔-are ||often ||required ||by ||contract, ||and ||generally, ||
release ||lien ||rights ||related ||to ||the ||work ||the ||contractor ||(prime, ||sub, ||or ||lower ||tier) ||has ||
already ||been ||paid ||for



Match ||the ||entity ||the ||Shojai ||opinion ||to ||its ||role ||in ||the ||underlining ||project ||or ||lawsuit. ||- ||
CORRECT ||ANSWER✔✔-- ||Contractor ||Developers, ||Inc. ||(Owner)

- ||Fariborz ||Shojai ||(Defendant)

- ||Los ||Alvarados ||Stucco ||& ||Stone ||(Prime ||Contractor)

- ||Morrell ||Masonry ||Supply, ||Inc. ||(Material ||Supplier)



The ||Shojai ||court ||ruled ||in ||favor ||of ||___ ||because ||the ||lien ||___ ||compiled ||with ||the ||intent ||of
||the ||TX ||lien ||statutes. ||- ||CORRECT ||ANSWER✔✔-- ||Morell ||Masonry ||Supply, ||Inc.



- ||Substantially