Specific Lien - Law Dictionary Search Results
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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...
bond
bond 1 a : a usually formal written agreement by which a person undertakes to perform a certain act (as appear in court or fulfill the obligations of a contract) or abstain from performing an act (as committing a crime) with the condition that failure to perform or abstain will obligate the person or often a surety to pay a sum of money or will result in the forfeiture of money put up by the person or surety ;also : the money put up NOTE: The purpose of a bond is to provide an incentive for the fulfillment of an obligation. It also provides reassurance that the obligation will be fulfilled and that compensation is available if it is not fulfilled. In most cases a surety is involved, and the bond makes the surety responsible for the consequences of the obligated person's behavior. Some bonds, such as fidelity bonds, function as insurance agreements, in which the surety promises to pay for financial loss caused by the bad behavior of an obligated person or by some contingency over w...
debenture
debenture [Anglo-French debentour and Medieval Latin debentura, perhaps from Latin debentur they are owed] : an unsecured bond that is backed by the issuer's general credit rather than a specific lien called also debenture bond see also indenture compare mortgage bond at bond NOTE: Debentures are often convertible to stocks. ...
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...
inchoate
inchoate 1 a : not yet made complete, certain, or specific : not perfected see also inchoate lien at lien b : not yet transformed into actual use or possession [until an employee has earned his retirement pay…[it] is but an right "Peterson v. Fire & Police Pension Ass'n, 759 P.2d 720 (1988)"] 2 : of or relating to a crime (as attempt, solicitation, or conspiracy) which consists of acts that are preliminary to another crime and that are in themselves criminal compare choate ...
postpone
postpone post·poned post·pon·ing 1 : to put off to a later time 2 : to place later in precedence, preference, or importance ;specif : to subordinate (a lien) to a later lien post·pon·able adj post·pone·ment n ...
encumbrance
encumbrance also in·cum·brance [in-kəm-brəns] n : a claim (as a lien) against property ;specif : an interest or right (as an easement or a lease) in real property that may diminish the value of the estate but does not prevent the conveyance of the estate [that these premises are free from all s] ...
secured debt
secured debt Debt backed by a mortgage, pledge of collateral, or other lien; debt for which the creditor has the right to pursue specific pledged property upon default. Examples include home mortgages, auto loans and tax liens. Source: Administrative Office of the U.S. Courts ...
purchase
purchase pur·chased pur·chas·ing vt 1 : to acquire (real property) by means other than descent or inheritance 2 : to obtain by paying money or giving other valuable consideration ;specif : to take (property) by a voluntary transaction (as a sale, mortgage, pledge, lien, or gift) that creates an interest and that is governed by the Uniform Commercial Code see also bona fide purchaser vi : to purchase something pur·chas·able adj pur·chas·er n n : an act or instance of purchasing: as a : the acquiring of real property by any means other than descent or inheritance b : the acquiring of an interest in property esp. in exchange for valuable consideration see also word of purchase ...
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