The Colorado Common Interest Ownership Act authorizes homeowners' associations to place a statutory lien on owners for failing to pay association dues.

a. true
b. false

Answer: a. true

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Which of the following statements is true about modifying contracts governed by the Code?

a. No new consideration is required to modify an existing contract. b. Modifications must be made in good faith c. Parties may agree that all modifications to an existing contract must be in writing. d. All of the above are true statements.

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