Possessory lien, Business Law and Ethics

Assignment Help:

Possessory Lien

Possessory Lien right of a party in possession about anothers goods to retain like the m as security about an obligation owned as in the owner.  Therefore the lien exists like common law. Where It has been codified through the Sales of Goods Act in such relation to contracts of sale of goods. Hence possession is indispensable and whether to create the lien the possession must be legal, and like continuous, and just not for a particular reason. Regularly such the lien will be lost whether the person entitled for it parts with possession also.

(1) General Lien

Such a general lien provides the person in possession of goods for the right to retain those goods whether any debt due to him through the owner of the goods has been paid for—although the debt is in respect of those goods may otherwise. However a lien may be enjoyed through express or implied term of the contract, where it may from general custom or like usage. Therefore few example as;, advocates, like bankers, and factors, as well like stockbrokers plus auctioneers have as general lien.

(2) Particular Lien

However an inkeeper has a possessory lien more than the goods of a guest for his premises; whether a lien is in the nature such a particular lien but it can be exercised merely re monies due in respect to the particular visit as—since it really stands in a individual class but the inkeepers claim does not fundamentally relate to the goods.


Related Discussions:- Possessory lien

Define accession and ratification, Define  Accession and ratification ...

Define  Accession and ratification Another area/aspect that needs to be highlighted with regards to a Treaty is the difference between signing and ratifying a particular treaty

Important step in the policy making process, QUESTION 1 (a) According t...

QUESTION 1 (a) According to Thomas Dye "Public Policy is whatever governments choose to do or not to do". How far do you agree? (b) Explain clearly how the first important s

Explain the universal declaration on human rights, Explain the Universal De...

Explain the Universal Declaration on Human Rights Universal Declaration on Human Rights was passed by UNGA, entailing a comprehensive and detailed concept pertaining to rights

Illustrate the maintenance phase of policy process, Illustrate the Maintena...

Illustrate the Maintenance Phase of policy process a) Develop a plan for active maintenance and review Who will ensure that policies are actively maintained and reviewed? H

Exceptions - authority of partners, Exceptions - Authority of Partners ...

Exceptions - Authority of Partners The rule stated is a general rule, such there are a few exceptions for it.  Hence the chief of these exceptions are as follow: like; (a)

Issue of restraining order services , Sub: Filing Divorce and Issue of Rest...

Sub: Filing Divorce and Issue of Restraining order services Dear Kimberly Frederick Bumfree, Warm Greetings from Donald & Matthews Law firm, This letter is for your imme

Impose a duty on directors, Impose a duty on directors: A company is, ...

Impose a duty on directors: A company is, however, free to impose a duty on its directors to attend board meetings within a certain period of time and to prescribe the consequ

Name based definition of phoenix activity, Q. Name based definition of phoe...

Q. Name based definition of phoenix activity? The approach taken in New Zealand has been to define phoenix activity in terms of the re-use of the name, or a name similar, to th

Description of terrorism, Description of terrorism UNSC has successfull...

Description of terrorism UNSC has successfully come up with laws to deal with terrorism and with the help of the theory of self determination, use of force and IHL, tried to re

How state succession deals with debts and loans, How state succession deals...

How state succession deals with debts and loans The issue relating to state succession deals with debts and loans. When a new state comes into existence, the question arises as

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd