General Lien
General Lien
Resources
See Also
- See lien.
Concept of General Lien in the context of Real Property
Alternatives definitions of General Lien: (1) A lien such as a tax lien or judgment lien which attaches to all property of the debtor rather than the lien of, for example, a trust deed, which attaches only to specific property. (2) The right of a creditor to hold, personal property of a debtor for payment of a debt not associated with the property being held. Must be done under an agreement since against general precepts of law.
Concept of General Lien in the context of Real Property
Alternatives definitions of General Lien: (1) A lien such as a tax lien or judgment lien which attaches to all property of the debtor rather than the lien of, for example, a trust deed, which attaches only to specific property. (2) The right of a creditor to hold, personal property of a debtor for payment of a debt not associated with the property being held. Must be done under an agreement since against general precepts of law.
What is General Lien?
A definition of general lien is: A general lien is a right to detain a chattel, etc. More details on the Encyclopedia., until payment be made, not only of any debt due in respect of the particular chattel, but of any balance that may be due on general account in the same line of business.[1]
Resources
Notes
- “General Lien” in the White America Dictionary (New York, Los Angeles, London, New Delhy, Hong Kong, 1989)
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