A bankers lien is an example fora.specific lienb.mortgagec.general liend.hypothecation
Question
A bankers lien is an example for:
- a. specific lien
- b. mortgage
- c. general lien
- d. hypothecation
Solution
Breakdown of the Problem
- Identify the types of liens mentioned: specific lien, mortgage, general lien, and hypothecation.
- Determine which type of lien a banker's lien falls into.
Relevant Concepts
- Specific Lien: A lien attached to a particular property or asset.
- Mortgage: A type of loan specifically for real estate, where the property serves as collateral.
- General Lien: A lien that applies to all of a debtor's assets, giving the creditor a claim against all.
- Hypothecation: The act of pledging collateral for a loan without transferring ownership of it.
Analysis and Detail
- A banker's lien allows a bank or lender to retain possession of a borrower's property as security for a debt. This type of lien is specifically regarding items that are in the bank’s possession, often a specific asset owned by the borrower.
Verify and Summarize
- Since a banker's lien is attached to specific assets that a bank holds, it fits the definition of a specific lien rather than a general lien or mortgage.
Final Answer
A banker's lien is an example of a specific lien (option a).
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