McBryde owned a commercial property which required considerable renovation. On September 7^th, she engaged Anderson Construction to perform the general contracting and project management, who quoted a price of $180,000 for all of the work. Anderson subcontracted work to a number of suppliers in the carpentry, plumbing, and electrical trades. On November 14^th, Anderson presented a bill for $60,000 for work done to that point. Had the truth been known, Anderson was an incompetent manager, and had the following accounts outstanding relating to the project: Albert Electric, $9 000; Rainbow Interiors, $12,000; Carson's Carpentry, $22,000; Hot-Heat Furnace and Duct, $7,700; and Hytown Construction Supply, $21,500.
In the first week of December, Anderson moved to another province leaving behind his business debts. On December 12^th, each supplier registered valid liens, in the amount owed to them, against McBryde's property. What should McBryde have done on November 14^th? What should she do on December 13^th? If she does the "right thing" throughout, what will be the disposition of this matter? What are the alternative ending(s) if she does not do the "right thing" throughout?

Question

Quizplus · Accepted Answer

The Answer of McBryde owned a commercial property which required considerable renovation. On September 7^th, she engaged Anderson Construction to perform the general contracting and project management, who quoted a price of $180,000 for all of the work. Anderson subcontracted work to a number of suppliers in the carpentry, plumbing, and electrical trades. On November 14^th, Anderson presented a bill for $60,000 for work done to that point. Had the truth been known, Anderson was an incompetent manager, and had the following accounts outstanding relating to the project: Albert Electric, $9 000; Rainbow Interiors, $12,000; Carson's Carpentry, $22,000; Hot-Heat Furnace and Duct, $7,700; and Hytown Construction Supply, $21,500. In the first week of December, Anderson moved to another province leaving behind his business debts. On December 12^th, each supplier registered valid liens, in the amount owed to them, against McBryde's property. What should McBryde have done on November 14^th? What should she do on December 13^th? If she does the "right thing" throughout, what will be the disposition of this matter? What are the alternative ending(s) if she does not do the "right thing" throughout?

McBryde Owned a Commercial Property Which Required Considerable Renovation