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

Authority of precedent - statement of salmond, Authority of Precedent - Sta...

Authority of Precedent - Statement of Salmond There writing on the authority of the precedent Salmond has stated as follows like; "The importance of judicial precedent has

Increasing the risk rating of building and construction, Q. Increasing the ...

Q. Increasing the risk rating of building and construction? Stakeholders indicated that there is a significant risk of phoenix activity in the building and construction industr

Online exam in Business Law, #questonline exam of business law about 20 qes...

#questonline exam of business law about 20 qestions ( T and F , MC, and short answers ) The exam will open just for two hours The exam will start half of hour from now >> can yo

Tort law assignment help: causation, The second factor which is necessary f...

The second factor which is necessary for a claimant to impose claim on other person is to have a cause for the action taken by him. Hence it is important to have a proper link betw

Compulsory winding up, Compulsory winding up: At the hearing other cre...

Compulsory winding up: At the hearing other creditors of the company may oppose the petition.  If so, the court is likely to decide in favour of those to whom the larger amoun

Valid but irregular allotments -allotment of shares , Valid But Irregular A...

Valid But Irregular Allotments: An allotment of shares is valid but irregular under S.52 (3) if it was made before the time of the opening of the subscription lists. The secti

Determine the agenda-setting process, Determine the agenda-setting process ...

Determine the agenda-setting process The "agenda" is the list of subjects or problems to which government officials, and people outside of government closely associated with t

Case study, I don''t know how to make a maxim. And my case is

I don''t know how to make a maxim. And my case is

Disadvantage of a scheme of arrangement, Disadvantage of a scheme of arrang...

Disadvantage of a scheme of arrangement: The disadvantage of a scheme of arrangement is that it requires the preparation of elaborate documents and the observance of a strict

Explain how this power conferred on the fsc is exercised, QUESTION 1 Th...

QUESTION 1 The Financial Services Commission (FSC) is the licensing authority for businesses operating in the Global Business sector. By referring to the Global Business Catego

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