Final answer:
The statement is false as an aircraft can have multiple liens against it at the same time. Liens are legal interests or rights in property for securing debts, and they can coexist with different priorities. Option B is correct.
Step-by-step explanation:
The statement that there can only be one lien against an aircraft at any one time is false. An aircraft, like any other property, can have multiple liens placed against it. A lien is a legal right or interest that a creditor has in another's property, which lasts until a debt or duty that it secures is satisfied.
In the realm of aviation, common types of liens include those for unpaid debts for repairs, storage, or fuel. Each lien must be properly recorded and they can exist simultaneously, each having its priority, which is generally determined by the order in which the liens were filed. However, even with multiple liens, certain liens like a mechanic's lien might have higher priority over others irrespective of the filing order.
No, the statement is false. There can actually be multiple liens against an aircraft at any one time. A lien is a legal claim or encumbrance on a property, including aircraft. Liens can be placed by various entities such as banks, financial institutions, government agencies, or even individuals.
For example, a bank may have a lien on an aircraft if the owner has taken out a loan and used the aircraft as collateral. Additionally, a government agency may place a lien on an aircraft for unpaid taxes or fees. Therefore, it is possible for multiple parties to hold liens on the same aircraft.