BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Lien is the right of the seller to hold on to the goods until the payment for those goods has been made by the buyer. The right of lien meaning as per Section 47 (1) of the Sale of Goods Act, 1930 is that an unpaid seller in possession of the goods can retain their possession until payment is made by the buyer.

Detailed explanation-2: -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. Lien does not endorse a power of sale but only to retain the property.

Detailed explanation-3: -Meaning of seller’s lien in English an official rule that allows a seller to take property back from a customer who has not paid for it: The printer claimed an unpaid seller’s lien.

Detailed explanation-4: -Right of lien is exercised by the seller, when the seller does not hand over the goods to the buyers because of the fault of payment by the buyers. The right of lien is available to the Unpaid Seller, only when he is in possession of the goods.

Detailed explanation-5: -Unpaid seller can exercise his right of lien even when property in goods has been passed to the buyer. Once possession is lost, right of lien of the unpaid seller is also lost. Unpaid seller can exercise his right of resale of goods only when property in goods has not passed to the buyer.