A homeowner contracts for a $75,000 addition. The contractor abandons the project after receiving $15,000. Under Tennessee law, what is the homeowner's primary recourse?
Correct Answer
B) Claim against contractor's bond
Tennessee requires contractors to maintain surety bonds, and homeowners can make claims against these bonds for contractor defaults or abandonment.
Why This Is the Correct Answer
Tennessee requires contractors to maintain surety bonds, and homeowners can make claims against these bonds for contractor defaults or abandonment.
More tn-supplement Questions
Calculate the Tennessee workers' compensation premium for a roofing contractor with a $180,000 annual payroll and a rate of $28.50 per $100 of payroll:
How many hours of continuing education are required for Tennessee contractor license renewal?
Calculate the workers' compensation experience modification factor for a contractor with $85,000 in expected losses and $68,000 in actual losses:
Under Tennessee lien law, what is the maximum time limit to enforce a mechanics lien after it has been filed?
Under Tennessee lien law, which party has priority when multiple liens are filed against the same property?
Under Tennessee building codes, what is the maximum allowable deflection for a residential floor joist with a 16-foot span under live load?
A homeowner in Nashville hires an unlicensed contractor for $8,000 worth of electrical work. The contractor demands payment but the work fails inspection. Under TCA 62-6, what recourse does the unlicensed contractor have?
Under Tennessee building codes, what is the minimum ceiling height required for habitable rooms in residential construction?
A Tennessee contractor has 8 employees working on a residential project. The total weekly payroll is $6,400. If the workers' compensation rate for residential construction is $8.50 per $100 of payroll, what is the weekly workers' compensation premium?
A contractor is installing a septic system for a new home in rural Tennessee. The estimated cost is $8,500. According to TCA 62-6, what licensing requirement applies?
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Previous Question
A Tennessee contractor's employee is injured on a job site. The contractor's workers' compensation premium is calculated at $8.50 per $100 of payroll. If the injured employee's annual salary is $48,000, what is the annual premium for this employee?
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A contractor's Tennessee license is set to expire on June 30th. What is the latest date they can submit their renewal application without penalty?