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
Correct Answer:
Verified
Correct Answer:
Verified
Q33: An assurance, generally purchased by an employer,
Q34: A defense for a surety is the
Q35: Smalltown contracted with Construction Co. (CC) to
Q36: The surety has certain defenses to paying.
Q37: "Perfection" is required before the secured party
Q39: A surety has a right to reimbursement
Q40: If a security interest was not perfected
Q41: Alice hired Robert as an associate accountant
Q42: Which of the following is true of
Q43: In strict foreclosure, a secured creditor can