80.2K

Verified Solution

Link Copied!

Question 1 2 pts Wolfgang operates an upholstering business. He contracted to reupholster a sofa for Hans, and to do the work at Hans' home. After the work was complete, Hans failed to pay the agreed price. Wolfgang wants to assert a lien against the sofa in order to collect the money due to him. Is Wolfgang entitled to a lien under these circumstances? Yes, because he is an artisan who improved personal property Yes, because Hansowes a debt based on the contract to improve the sofa No, because he is not an artisan who improved personal property O No, because he has no possession of the sotato claim lien Question 2 2 pts Bob borrowed $200.000 from ABC Bank to purchase his residential house. A mortgage was used as the financing vehicle. Several years later Bob encountered financial difficulties. He did not pay his mortgage payments for 4 months and the bank foreclosed. At that time the remaining loan balance was $170,000. Bob had not maintained the property well and the winning bid at the foreclosure auction sale was only $150,000. Is Bob liable for the $20,000 deficiency that has resulted (using the majority rule)? No. Bob is not able for this deficiency because the property with reston against the property No Bob is not liable for this deficiency because the bank's exclusive remedy for mortgag Yes, Bobilable for this deficiency because the proceeds of sale did not satisfy the Yes Babishable for this deficiency is a Buarantor of a debt

Answer & Explanation Solved by verified expert

See Answer