Factor S Lien - Law Dictionary Search Results

Home Dictionary Name: factor s lien

lien [Anglo-French, bond, obligation, literally, tie, band, from Old French, from Latin ligamen, from ligare to bind] : a charge or encumbrance upon property for the satisfaction of a debt or other duty that is created by agreement of the parties or esp. by operation of law ;specif : a security interest created esp. by a mortgage assessment lien : a lien that is on property benefiting from an improvement made by a municipality and that secures payment of the taxes assessed to pay for the improvement attachment lien : a lien acquired on property by a creditor upon levy of an attachment car·ri·er's lien : a lien against freight conferring on the carrier the right to retain the property until the amount due is paid charging lien : a lien attaching to a judgment or recovery awarded to a plaintiff and securing payment of the plaintiff's attorney's fees and expenses called also special lien choate lien : a lien that requires no further action to be made enforceable and th...

Vendor's lien for unpaid purchase money

Vendor's lien for unpaid purchase money. Where a vendor of land conveys, without more, although the consideration is expressed to be paid both in the body of the deed and by a receipt endorsed on the back of it, still if the money or part of it was not in fact paid, a lien arises as between the vendor and the purchaser, and persons claiming as volunteers, for so much of the purchase money as remains unpaid. The mere giving of security will not prevent the lien arising, unless it appears that the security was to be substituted for the lien. Similarly a purchaser will have a lien for prematurely paid purchase money, see Mackreth v. Symmons, (1808) 15 Ves 329; 1 W &TLC.If the lien arose before 1926 and was not transferred after 1925, a purchaser for value of the legal estate in the land from the original purchaser will take it subject to the lien if he had notice of it, and in all cases where a pre-1926 lien has been transferred or a lien has arisen since 1925, it must be registered under...

carrier's lien

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landlord's lien

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materialman's lien

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mechanic's lien

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vendor's lien

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Lien

Lien [answering to the tacita hypotheca of the Civil Law], a right in one man to retain that which is in his possession belonging to another, until certain demands of the person in possession are satisfied. It is neither a jus in re, nor a jus ad rem--i.e., it is not a right of property in the thing itself, or right of action to the thing itself.It is either particular, as a right to retain a thing for some charge or claim growing out of, or connected with, the identical thing; or general, as a right to retain a thing not only for such charges or claims, but also for a general balance of accounts between the parties in respect to other dealings of the like nature.General and particular liens may arise: (1) by an express contract; (2) by an implied contract, resulting from the usage of trade, or the manner of dealing between parties. General lines are not favoured in law, but some judicially recognized general lines are bankers', solicitors', factors', stockbrokers'. See Halsb. L.E., ti...

Maritime lien

Maritime lien, is well defined to mean a claim or privilege upon a thing to be carried into effect by legal process, that process to be a proceeding in rem ...... This claim or privilege travels with the thing into whosoever possession it may come. It is inchoate from the moment the claim or privilege attaches, and when carried into effect by legal process by a proceeding in rem, relates back to the period when it first attached, Bold Buccbugh, The (1852) 7 Moo PCC 267: (1843-60) All ER Rep 125.A maritime lien is a claim which attaches to the res i.e., the ship, freight, or cargo. It may arise ex delicto, e.g., compensation for damage by collision, or ex contractu, for services rendered to the res; but it is strictly confined to services such as salvage, supply of necessaries to the ship, and seamen's wages, and the courts show no tendency to extend the privilege (see The Ripon City, 1897, P. 226). Thus for ordinary work done upon a ship, such as repairs, there will be no maritime lien...

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