Question

17.                             Mel has a(n) __________ lien on Ellen’s car after he replaced her clutch. The lien will stay in place until Ellen pays for the car repairs.

a.              Guarantor's

b.              Artisan's

c.              Mechanic's

d.              Judicial

18.                             An artisan’s lien cannot be claimed by which of the following?

a.              A manufacturer

b.              A common carrier of goods

c.              A jeweler who repaired a watch

d.              The owner of a storage facility

19.                             A(n) __________ is a security interest in personal property in favor of one who has performed services on the personal property

a.              Security Deposit.

b.              Mechanic's lien.

c.              Artisan's lien.

d.              Color of title.

20.                             Security for a creditor without involving an interest in the property, where the security for the creditor is provided by a third person's promise to be responsible for the debtor's obligation, is a(n) _____________.

a.              Foreclosure sale

b.              Suretyship

c.              Artisan's lien

d.              Mechanic's lien

21.                             A party who limits his or her promise to a single transaction or to a single creditor is a(n) ____________.

a.              Obligee

b.              General guarantor

c.              Special guarantor

d.              Creditor

Answer 1

17) Mel has a(n) __________ lien on Ellen’s car after he replaced her clutch. The lien will stay in place until Ellen pays for the car repairs.

Answer: Option (B) - Artisan's

18) An artisan’s lien cannot be claimed by which of the following?

Answer: Option (A) - A manufacturer

19) A(n) __________ is a security interest in personal property in favor of one who has performed services on the personal property

Answer: Option (C) - Artisan's lien.

20) Security for a creditor without involving an interest in the property, where the security for the creditor is provided by a third person's promise to be responsible for the debtor's obligation, is a(n) _____________.

Answer: Option (B) - Suretyship

21) A party who limits his or her promise to a single transaction or to a single creditor is a(n) ____________.

Answer: Option (C) - Special guarantor