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Title: Liens

Essay Details:

Subject: Business
Author: Andrea J
Date: July 31, 2011
Level: University
Grade: A
Length: 2 / 352

Essay text:

There are several types of liens that serve a specific purpose. The style of lien that protects contractors and subcontractors is called a mechanics lien. A materialman’s lien protects a material provider from non payment. According to the text, there are two different systems that most states follow for the establishment of mechanic and materialman liens. They are referred to as the New York and Pennsylvania systems. The biggest difference is that with the New York system, the contractors and material providers can take out a lien for the specific amount owed at the time the lien is filed. Under the Pennsylvania system, a lien can be filed for the ‘value’ of the labor or materials...

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