Recent Lessons

Show all results for ""

Feature Overview

Ace your exams with our all-in-one platform for creating and sharing quizzes and tests.

Quizzes

Create quizzes and tests automatically from your content using AI.

Flashcards

Automatically turn your notes into digital flashcards.

Share, Export & Embed

Share with classmates or export to Excel and your learning management system.

Stats & Reporting

Auto-grading quizzes and tests with detailed stats and reports.

Mobile Apps

The smarter way to study – wherever you are.

Pricing

Search...

12 Questions

0 Views

Types of Liens and Mechanic's Liens

Choose a study mode

Play Quiz

Study Flashcards

Spaced Repetition

Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What type of lien is created by agreement of parties?

Artisan's lien

Statutory lien

Mechanic's lien

Consensual lien (correct)

What is the name of the lien that is placed on personal property?

Statutory lien

Consensual lien

Mechanic's lien

Artisan's lien (correct)

What is the procedure for a contractor/worker to file a mechanic's lien?

File with the local police department

File with the county clerk where the property is located (correct)

File with the state court

File with the IRS

What is the purpose of an attachment?

To seize a debtor's property before a judgment is made Signup and view all the answers

What must a creditor prove about the defendant to get an attachment?

Any one of the above Signup and view all the answers

What is a possible consequence of a mechanic's lien?

The proceeds of the sale will be used to pay the contractor/worker Signup and view all the answers

What happens to a debtor's property if a creditor is successful in a legal action?

The property is seized and sold to satisfy the judgment Signup and view all the answers

What is the primary difference between a surety and a guarantor?

A surety is primarily liable for the debt, while a guarantor is secondarily liable Signup and view all the answers

What is the purpose of garnishment?

To satisfy a debt by seizing property held by a third party Signup and view all the answers

What is the main purpose of a mortgage foreclosure?

To seize the debtor's property and sell it to satisfy the debt Signup and view all the answers

What right does a surety or guarantor have against the debtor?

Right to subrogation, reimbursement, and contribution Signup and view all the answers

What is the purpose of the Federal Consumer Credit Protection Act?

To ensure debtors can keep a certain amount of their income Signup and view all the answers