Case summary: Two people D and K asked a construction company J to remodel their farmhouse. The company J gave them an initial estimate of $45,975. As the work proceeded, significant changes were made in the plan that increased the cost of work which was informed by the company J to the people D and K. In the middle of the project, the people D and K paid $67,000 to the company and refused to pay more. The company J filed a suit against the people D and K in the state court.
To find: The most effective lien to the company J in an attempt to collect its money.
Case summary: Two people D and K asked a construction company J to remodel their farmhouse. The company J gave them an initial estimate of $45,975. As the work proceeded, significant changes were made in the plan that increased the cost of work which was informed by the company J to the people D and K. In the middle of the project, the people D and K paid $67,000 to the company and refused to pay more. The company J filed a suit against the people D and K in the state court.
To find: The way a Mechanic’s lien works.
Case summary: Two people D and K asked a construction company J to remodel their farmhouse. The company J gave them an initial estimate of $45,975. As the work proceeded, significant changes were made in the plan that increased the cost of work which was informed by the company J to the people D and K. In the middle of the project, the people D and K paid $67,000 to the company and refused to pay more. The company J filed a suit against the people D and K in the state court.
To find: The enforceability of the Mechanic’s lien in this case.
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Chapter 15 Solutions
The Legal Environment of Business: Text and Cases
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- Hans and Mitzi are getting married, and have saved $20,000 during their lengthy courtship. They have their hearts set on a unit for sale at $200,000 and Mitzi’s father John is prepared to lend them the balance of $180,000 to help them out, provided all the details of the arrangement are completed professionally and legally. a) If you were advising John, what legal arrangement would you recommend? Explain why you would make this recommendation b) Identify the parties to the arrangement according to their legal and commercial descriptionsarrow_forward10. X has an oral contract with Y for the purchase of Y's lake cabin. X's remedy(ies) is/are if Y breaches: a) Specific performance. b) Injunction. c) Damages. d) Probably no remedy available as this contract had to be in writing before X could take it to court as the Statute of Frauds requires this contract to be in writing.arrow_forwardPls help ASAParrow_forward
- 29. A sting broker is employed to find a purchaser and produces a full cash offer that meets the seller's terms. The seller refuses to accept the offer because he doesn't like the buyer. Which condition exists? (4) The broker is entitled to compensation since he produced a buyer who met the seller's terms for the sale A (b) The broker is obligated to find another buyer that the seler kes in order to be compensated (c) The troker is not entiled to compensation unit the contract is signed by all parties. The broker is only wted to compensation when the contract is consummated on the day of closingarrow_forwardPls help ASAPon both plsarrow_forwardPhillip is a broker who was hired by Sam to help him find a new investment property. Phillip identifies a property that fits Sam's investing criteria. Sam asks Phillip to do some research and provide him with an opinion of title on the property. Is Phillip permitted to do this? ○ No. This would be considered an unauthorized practice of law. No. Phillip needs his sales associates license in order to issue an opinion of title. Yes. Brokers are always permitted to issue an opinion of title. Yes. As long as Phillip notifies FREC, he can issue an opinion of title.arrow_forward
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