83,357
edits
Lien: Difference between revisions
Jump to navigation
Jump to search
no edit summary
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
| Line 1: | Line 1: | ||
{{anat|security}}{{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 your assets. 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. | {{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> | |||
{{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 your assets. 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. | ||