A contractor fails to complete a project and the homeowner suffers $30,000 in damages. The contractor's bond amount is $25,000. What is the maximum recovery from the bond?
Correct Answer
A) $25,000
The maximum recovery from a contractor's bond is limited to the bond amount, which is $25,000 in this case.
Why This Is the Correct Answer
The maximum recovery from a contractor's bond is limited to the bond amount, which is $25,000 in this case.
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