Unlock document.
This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
1.
(p. 684)
Creating a mechanic's lien on property automatically ensures that the contractor who
filed the lien will receive money.
2.
(p. 687)
An artisan's lien remains in effect regardless of whether the artisan retains the property.
3.
(p. 687)
Both artisan's and mechanic's liens are super-priority liens.
4.
(p. 687-688)
Attachment is the same thing as a writ of execution.
5.
(p. 691)
At any time before the sale of real property subject to a mortgage, the debtor may recover
the property by paying the debt along with additional costs and interest.
6.
(p. 692)
If proceeds of the sale of real property do not cover the debt, the mortgagee can seek a
deficiency judgment.
7.
(p. 692)
A composition agreement is a contract between creditors and a debtor in which the
creditors agree to accept a lesser amount to satisfy the debts and discharge the rest of the debt.
8.
(p. 692)
An assignment for the benefit of creditors is an involuntary proceeding instituted
generally by a bankruptcy court.
9.
(p. 693)
A suretyship and a guaranty are the same thing.
10.
(p. 693)
A surety is secondarily liable to the creditor for a debtor's debt.
11.
(p. 687-688)
Which of the following is
false
regarding the process of attachment?
12.
(p. 682)
A person who holds a lien is called a[n] ____.
13.
(p. 682)
Which of the following is true regarding types of liens?
14.
(p. 683)
A secured interest is a[n] ______ lien.
15.
(p. 683)
A[n] ______ lien is a lien that is created solely through statute, regardless of whether the
debtor wishes the lien to be created.
16.
(p. 683)
When a person hires a worker to make improvements on real property but is later unable
to pay the worker, the worker can create a[n] ______ lien on the person's improved real property.
17.
(p. 683)
A mechanic's lien is created by ____.
18.
(p. 684)
Which of the following is true regarding recovery under a mechanic's lien?
19.
(p. 685)
Which of the following was the result on appeal in the case nugget
Bates County
Redi-
Mix Inc. v. Windler
, in which a supplier of concrete sought a mechanic's lien for the cost of
concrete although the concrete had to be removed and replaced based upon improper installation
by a subcontractor unconnected with the plaintiff?
20.
(p. 689)
Which of the following is true regarding wage garnishment?
21.
(p. 684)
An artisan's lien is a claim on ______ property.
22.
(p. 684)
Which of the following was the result in
Bend Tarp and Liner Inc., v. Bundy,
the case in
the text in which the plaintiff filed a lien and instituted foreclosure proceedings in connection
with a dispute involving payment for a pond liner following the defendant's refusal to pay based
on an alleged tear in the liner?
23.
(p. 696)
Which of the following was the result in the Case Opener in which the plaintiffs claimed
that a mortgage foreclosure was wrongful because the foreclosure proceedings did not reveal the
true secured party who had purchased the plaintiffs' loan from the original lender?
24.
(p. 685-686)
Which of the following was the result in
In
re Hydro-Action Inc.
, the bankruptcy
case in the text involving whether a claimant was entitled to a lien upon a conveyor belt system
that it installed?
25.
(p. 687)
Which of the following is a term for a lien that has priority over other types of liens?
26.
(p. 687)
When a creditor, through legal action, seizes a debtor's property to satisfy a debt, the
creditor has a[n] ______ lien.
27.
(p. 687)
Which of the following is true regarding type of judicial liens?
28.
(p. 687)
Which of the following is a court-ordered judgment permitting a local court officer, such
as a sheriff, to seize a debtor's property before the entry of a final judgment in an underlying
case?
29.
(p. 690-691)
Which of the following was the result in
Cameron v. Ewing
, the case in the text
involving whether monthly proceeds from a reverse mortgage were subject to garnishment?
30.
(p. 688)
Which of the following is a judicial order authorizing a local law officer to seize and sell
any of the debtor's real or personal nonexempt property?
