BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -If the buyer fails to pay the price within the decided time, then unpaid seller has the right to keep the goods in his possession and he can refuse to deliver the goods until the due payment is paid.

Detailed explanation-2: -Right of Lien–‘Lien is the right to retain possession of goods until certain charges in respect thereof are paid.

Detailed explanation-3: -Lien is the right of an individual to retain goods and securities in his possession that belongs to another until certain legal debts due to the person retaining the goods are satisfied.

Detailed explanation-4: -(1) The unpaid seller may exercise his right of stoppage in transit either by taking actual possession of the goods, or by giving notice of his claim to the carrier or other bailee in whose possession the goods are. Such notice may be given either to the person in actual possession of the goods or to his principal.

Detailed explanation-5: -Vendor’s Lien has also been defined under the Black’s Law Dictionary as a lien held by a seller of goods, who retains possession of the goods until the buyer has paid in full. The term lien implies that the property in the goods has vested in the buyer, because no man can have a lien on his own goods.