Aniket Nandan, Gitam School of Law, Visakhapatnam, India
ABSTRACT
A lien is a case or legitimate right against resources that are regularly utilized as security to fulfill an obligation. A loan boss or a legitimate judgment could lay out a lien. A lien effectively ensures a fundamental commitment, like the reimbursement of a credit. In the event that the hidden commitment isn’t fulfilled, the lender might have the option to hold onto the resource that is the subject of the lien. There are many kinds of liens that are utilized to get resources. Liens can be willful or consensual, like a lien on a property for a credit. Nonetheless, compulsory or legal liens exist by which a leaser looks for a legitimate activity for default. Thus, a lien is put on resources, including property and financial balances. There are two kinds of lien that are specific and general. Segment 170 of the Indian Agreement Act 1872 gives the Bailee, the right of specific lien. A specific lien gives the option to hold ownership just of merchandise in regard of which the progressions or duty have emerged. The right of specific lien can be effectively guaranteed if, by the activity of work or ability, there has been some improvement of the merchandise. The Right of Specific Lien can be asserted exclusively in regard to merchandise whereupon work or ability has been practiced by the Bailee. Segment 171 of the Indian Agreement Act 1872 gives Bailee the right of General Lien. General Lien is one that gives the right to ownership until the entire equilibrium of the sum is paid. The right of a General lien can be asserted in regard to any products for any change due regard to different merchandise.
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