A Tennessee contractor purchases materials worth $12,500 on credit for a residential project. The supplier delivers materials on March 15th, and the contractor's final payment is due April 30th. When must the supplier file a materialman's lien if not paid?
Correct Answer
C) By July 29th
Materialmen must file liens within 90 days of last furnishing materials. From March 15th, 90 days extends to July 29th.
Why This Is the Correct Answer
Materialmen must file liens within 90 days of last furnishing materials. From March 15th, 90 days extends to July 29th.
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A Tennessee residential contractor wants to bid on a $75,000 home renovation. Their current license classification only allows work up to $50,000. What must they do?
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A Tennessee contractor's workers' compensation policy lapses for 15 days. The contractor has 8 employees and continues working. What is the potential penalty per employee per day?