Familiar with a mechanics lien etc. but was not aware that the contractor (private/home owner has contract agreement with hired contractor) could file one against an owner, if said owner was not the direct purchaser of materials used by the contractor.
Owner has an agreement with the contractor to perform the work and provide the materials, owner is then automatically liable, co signer, now the bonding company for the contractor if he defaults on supplier payment, even if paid by the owner in full for the job.
In that case contractor must provide a material and performance bond in case of default. I've taken over multi million dollar contracts, hired by bonding companies that had contractors default or were defaulted for cause.
What a wrangled, ensuing, and embroiled legal mess these matters turn into, as the next step for the owner would be to sue the contractor, file a claim, file a lawsuit for the amount of the lien, said contractor would most likely be bankrupt with no assets or liquidity at that time. After all the years around this business, working with suppliers, I'll have to ask, what goes on, lawyers/supply houses. In the large scale scenario where I've worked, contractors have to furnish bonds, indemnify/hold harmless owners, provide insurance etc.
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - Earthmaster Project Progress Just a little update on my Earthmaster......it's back from the dead! I pulled the head, and soaked the stuck valves with mystery oil overnight, re-installed the head, and bingo, the compression returned. But alas, my carb foiled me again, it would fire a second then flood out. After numerous dead ends for a replacement carb, I went to work fixing mine.I soldered new floats on the float arm, they came from an old motorcycle carb, replaced the packing on the throttle shaft with o-rings, cut new ga
... [Read Article]
Latest Ad:
1964 I-H 140 tractor with cultivators and sidedresser. Starts and runs good. Asking 2650. CALL RON AT 502-319-1952
[More Ads]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.