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Lien: Difference between revisions
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{{anat|security|}} | {{anat|security|}} | ||
:''It was common ground between counsel that rights properly classified in English law as a general lien were incapable of application to anything other than tangibles and old-fashioned certificated securities.'' — Briggs J in {{casenote1|Re Lehman Brothers International}}<br> | :''It was common ground between counsel that rights properly classified in English law as a general [[lien]] were incapable of application to anything other than [[chattel|tangibles]] and old-fashioned [[certificated securities]].'' — Briggs J in {{casenote1|Re Lehman Brothers International}}<br> | ||
{{t|Lien}}s are {{t|Security}} interests that usually arise by operation of the cold hard facts of life and without the need for any formal documentation. A banker has a lien over | {{t|Lien}}s are {{t|Security}} interests that usually arise by operation of the cold hard facts of life — in liberal democracies known as the [[common law]], and without the need for any formal documentation. A banker has a [[Banker’s lien|lien]] over assets it holds for you in custody. A mechanic has a lien over your car, in that if you don’t pay your bill, you can’t have the car back. A [[custodian]] has a lien over your assets. You get the idea. | ||
Liens can be creatures of [[common law]] or [[statute]] (in which case they’re forms of {{tag|legal security}}) or they can be [[equitable security|equitable]]. | Liens can be creatures of [[common law]] or [[statute]] (in which case they’re forms of {{tag|legal security}}) or they can be [[equitable security|equitable]]. | ||
to have a legal lien you must have possession over your asset. To have an equitable lien, not so much. | to have a legal lien you must have possession over your asset. To have an [[equitable lien]], not so much. | ||
===[[No lien letter]]s=== | ===[[No lien letter]]s=== | ||
{{no lien letters}} | {{no lien letters}} | ||
{{sa}} | |||
[[Equitable lien]] | |||