8. If unsatisfactory work or condition(s) are identified, the job can be stopped so that the work or condition(s) can be corrected. Many construction contracts bestow this right in either a broad or limited way to the:

1. Architect-engineer
2. Contractor or subcontractor who performed the work
3. Insurance adjuster
4. Risk manager

9. Most states do not enforce oral purchase agreements if the price of goods is this amount or more, in accordance with the statute of frauds section of the Uniform Commercial Code (UCC):

1. $500
2. $2,500
3. $5,000
4. $25,000

10. In law, a surety is a party that assumes liability for:

1. A third-party beneficiary
2. Performance bond
3. Contract bond
4. The debt, default or failure in duty of another

11. A surety bond serves as:

1. An insurance policy
2. An extension of credit by the surety, not in the sense of a financial loan, but as an endorsement
3. An extension of credit by the surety, in the sense of a financial loan and endorsement, in accordance with the Uniform Commercial Code (UCC)
4. An extension of a contract bond, in the sense of a financial loan and endorsement, in accordance with the Uniform Commercial Code (UCC)

 

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