A homeowner hires a contractor for a $15,000 roofing project in North Carolina. The contractor demands full payment upfront. What does NC law allow for upfront payments on home improvement contracts?
Correct Answer
B) No more than $1,000 or 10% of contract price
NC law limits upfront payments on home improvement contracts to the lesser of $1,000 or 10% of the total contract price.
Why This Is the Correct Answer
NC law limits upfront payments on home improvement contracts to the lesser of $1,000 or 10% of the total contract price.
More nc-supplement Questions
A residential contractor in NC wants to bid on a $125,000 project but currently holds an Intermediate license. What action must be taken?
A contractor discovers contaminated soil during excavation on a commercial project in Charlotte. Under NC environmental regulations, what is the first required action?
A North Carolina contractor completes a $45,000 residential addition project. The homeowner refuses to pay the final $8,000. What is the filing deadline for a mechanic's lien under NC lien law?
A residential contractor in Charlotte is building a deck addition. Which inspection is typically required first under NC building codes?
A contractor performs work on a residential property in North Carolina but is not paid. The work was completed on March 15th, and the last material was delivered on March 20th. What is the deadline to file a claim of lien?
A subcontractor performing electrical work discovers that the general contractor's license has been suspended. What action should the subcontractor take according to NC General Statutes?
A contractor in North Carolina discovers contaminated soil during excavation. The soil contains petroleum products above reportable levels. Which agency must be notified immediately?
A contractor performing work on a North Carolina highway project encounters a suspected archaeological artifact. What is the required action under NC environmental regulations?
Calculate the workers' compensation premium for a NC roofing contractor with $250,000 in annual payroll and a rate of $18.50 per $100 of payroll:
Calculate the lien amount a subcontractor can claim on a $180,000 project where they provided $35,000 in materials and labor, but the general contractor still owes them $12,000:
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A contractor performing work on a North Carolina highway project encounters a suspected archaeological artifact. What is the required action under NC environmental regulations?
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Under NC lien law, a subcontractor must file a claim of lien on real property within how many days after the last furnishing of labor or materials?