Asked by Tyler Thompson on May 14, 2024
Verified
A(n) ________ is lien that is placed on personal property.
A) mechanic's lien
B) artisan's lien
C) priority lien
D) actuary lien
E) personal property lien
Mechanic's Lien
A security interest granted over an item of property to ensure the payment of a debt or performance of some obligation arising from work performed or materials furnished in improving the property.
Personal Property
Movable assets owned by an individual or entity, such as furniture, vehicles, and electronics, as opposed to real estate.
- Understand the different types of liens and the properties on which they can be placed.
Verified Answer
KC
Karissa ConnellMay 21, 2024
Final Answer :
B
Explanation :
Artisan's lien specifically refers to a lien placed on personal property as a result of labor or material contributed to that property, making it unique among the options listed.
Learning Objectives
- Understand the different types of liens and the properties on which they can be placed.