lien

The right of one person to retain possession of goods owned by another until the possessor's claims against the owner have been satisfied. In a general lien, the goods are held as security for all the outstanding debts of the owner, whereas in a particular lien only the claims of the possessor in respect of the goods held must be satisfied. Thus an unpaid seller may in some contracts be entitled to retain the goods until receiving the price, a carrier may have a lien over goods being transported, and a repairer over goods being repaired. Whether a lien arises or not depends on the terms of the contract and usual trade practice. This type of lien is a possessory lien, but sometimes actual possession of the goods is not necessary. In an equitable lien, for example, the claim exists independently of possession. If a purchaser of the property involved is given notice of the lien it binds him; otherwise he will not be bound. Similarly a maritime lien, which binds a ship or cargo in connection with some maritime liability, does not depend on possession and can be enforced by arrest and sale (unless security is given). Examples of maritime liens are the lien of a salvor, those of seamen for their wages and of masters for their wages and outgoings, that of a bottomry or respondentia bondholder (see hypothecation), and that over a ship at fault in a collision in which property has been damaged.