A $24,700 home improvement contract uses the 10 percent or $1,000 rule. What maximum deposit may be requested?
Correct Answer
B) $1,000.
Ten percent is $2,470, but the maximum down payment is the lesser amount, $1,000.
Why This Is the Correct Answer
Ten percent is $2,470, but the maximum down payment is the lesser amount, $1,000.
More ca-law-business Questions
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A supplier first delivers materials on day 1 and serves preliminary notice on day 34. Under the 20-day lookback rule, materials furnished starting on what day are protected?