Liens

Question 1

What is lien

Answer 1

Right of a person to retain posession of goods of another until his claims are satisfied.

Question 2

Legal vs. Equitable lien

Answer 2

Legal lien is that which is recognized and enforced by the common law courts, while equitable only by equity courts. Legal lien is lost when possession of the property subject to it is given up.

Question 3

Difference between legal and equitable lien in Indian law

Answer 3

Nippon Kaisha vs. Ramjibon
Common Law lien confers merely a right to posess and retain the property as security, which is a passive right to possess. In equity, you can have a lien without having possession. Like the Ranak framing my picture thing. He can get an injunction against me selling my picture.

Question 4

Types of Lien

Answer 4

1. Solicitors Lien
2. Banker’s Lien
3. Agent’s Lien
4. Bailee’s Lien
5. Vendor and Purchasor’s Lien
6. Trustee’s lien
7. Finder of Goods
8. Unpaid seller’s lien
9. Vendor’s Lien
10. Purchaser’s Lien

Question 5

Solicitor’s Lien

Answer 5

A solicitor has lien on his client’s property, an equitable lien on his client’s property recovered and preserved through him. He also has a particular lien on his client’s property for the costs of the suit.

Question 6

Banker’s Lien

Answer 6

Banker has a general lien. It extends to the general balance of account. They retain the goods bailed.

Question 7

Agent’s Lien