Assume that Jane agrees to put the solar panels on the roof of the new building. When the contractor installs the solar panels Jane's company does not pay for them. Which creditor protection could the solar contractor encumber the building to ensure the payment?

Question

Giuliana Mercado

Social Studies

1 April, 20:27

Assume that Jane agrees to put the solar panels on the roof of the new building. When the contractor installs the solar panels Jane's company does not pay for them. Which creditor protection could the solar contractor encumber the building to ensure the payment?

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Answers (1)

Know the Answer?

Terrell Moore · Answer 1

mechanic's lien.

Explanation:

The answer is mechanic's lien.

Mechanic's lien is the creditor protection that the solar contractor encumber the building to ensure the payment

Mechanic's lien is a term given to those security money deposited in the name of the property for the benefit of the people who have invested in the property in terms of labor or materials etc.

Thus when Jane's company refuse to pay the contractor who have installed the solar panels on the roof of the building, the contractor can ensure the payment from Jane's company by claiming it as mechanic's lien.

Thus the answer is mechanic's lien.