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What is a lien? Explain the various types of lien.

What is a lien? Explain the various types of lien.

Answers


Maurice
A lien is a right conferred upon a person by trade usage or custom or by the law in
certain circumstances, as a security for the fulfillment of an obligation owed by another
or others.

A lien may be possessory, equitable or maritime.

(a) Possessory lien: this is the right of person in possession of another's goods
to retain them to compel the owner to fulfill an obligation owning. It may be
particular or general and is dependent on possession which must be lawful and
continuous. It is a self-help remedy.

(b) Equitable lien: this is the right of a person to have certain property applied in a
particular manner. It is independent of possession and is enforceable by court
action.

(c) Maritime lien: this is the right to have a ship or its cargo sold and the
proceeds applied in a particular manner. It is independent of possession and is
enforceable by court action.
maurice.mutuku answered the question on May 3, 2018 at 07:52

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