20:34
My constitution that I wrote is getting submitted on the 30th and if the community likes it, then I will be the first person in the world to write a constitution for on-chain blockchain based governance.
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LSDefine
Simple English definitions for legal terms
Materialman's Lien
Read a random definition: Uniform Durable Power of Attorney Act
A quick definition of Materialman's Lien:
A materialman's lien is a type of lien that gives someone who supplies materials for work done on a property a security interest in that property. It's like a mechanic's lien, but for people who provide materials instead of doing the actual work.
A more thorough explanation:
A materialman's lien is a type of lien that gives a person who supplies materials used during work performed on a property a security interest in that property. It is similar to a mechanic's lien, which is a type of lien that gives a person who performs work on a property a security interest in that property.
John is a contractor who is hired to build a new house. He purchases lumber, nails, and other materials from a supplier named Bob. Bob has the right to file a materialman's lien on the property if John does not pay him for the materials he supplied. This means that Bob could potentially take ownership of the property if John does not pay him.
Another example would be if a homeowner hires a plumber to fix a leaky pipe. The plumber purchases materials such as pipes and fittings from a supplier. If the homeowner does not pay the plumber for the work done, the supplier could file a materialman's lien on the property to ensure payment for the materials supplied.
These examples illustrate how a materialman's lien can protect suppliers of materials used in construction or repair work. It gives them a legal claim to the property if they are not paid for the materials they supplied.