Question

Explain Lien under Contract Act, 1872 and Sale of Goods Act, 1930 along with respective examples.

Answer 1

Explanation:

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Answer 2

Sec. 171 of the Indian Contract Act, 1872 defines the Right to Lien. The term 'Lien' means the right conferred upon a person to retain goods of another person in his possession until the other person makes his default payments.

Examples of Lien

• Particular Lien over specific commodity for which a particular debt arose. In such cases, the person having possession has the right to retain goods until the debt is paid off.

• The bank has the General Right to Lien in case the debtor defaults in repayment of a loan.

Although Right to Lien has not been defined under the Sale of Goods Act, 1930, but is nevertheless part of the rights of an unpaid seller under the Act.