stop notice statute

stop-notice statute. A law providing an alternative to a mechanic’s lien by allowing a contractor, supplier, or worker to make a claim against the construction lender and, in some instances, the owner for a portion of the undisbursed construction-loan proceeds. See mechanic’s lien under LIEN. [Cases: Mechanics’ Liens 113, 115. C.J.S. Mechanics’ Liens §§ 117, 277.]

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词条贡献者

译员Roger，毕业于欧洲一流的高级翻译学院，专注翻译各种与公共及基础设施融资有关的法律文件。