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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 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. | {{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. | ||