Example of Section Blog layout (FAQ section)

WHAT IS ENDORSEMENT IN FULL?

Sunday, 27 September 2009 21:59 Raghwendra Nath Pandey

In addition to the endorsement if the endorser directs for the payment of the amount to a order of a certain person then it is known as endorsement in full. An endorsement in blank may be converted into endorsement in full.

WHAT IS ENDORSEMENT IN BLANK?

Sunday, 27 September 2009 21:58 Raghwendra Nath Pandey

If the endorser merely signs his name then it is known as endorsement in blank.

WHAT ARE THE TYPES OF LIEN?

Sunday, 27 September 2009 21:55 Raghwendra Nath Pandey

GENERAL LIEN AND PARTICULAR LIEN

Sec-171 of Indian Contract Act confers the right of general lien on bankers.

A banker in the absence of a contract to the contrary retain as a security for a general balance of the account. any goods bailed to them. No specific form /contract is required to executrix’s lien. A general lien can always be implied.

Banks lien is not barred by law. Banks lien tantamount to an implied pledge.

PARTICULAR LIEN: It covers the right to retain possession of goods in respect of which dues have arisen.

Lien is exercisable only if the customer is liable on the same footing and capacity. Any fiduciary relationship would thwart the exercise of lien.

When there is a trusteeship, agent or principal relationship or for any specific reconstructed intention, lessor.lessess.

WHAT IS A NEGATIVE LIEN?

Sunday, 27 September 2009 21:57 Raghwendra Nath Pandey

When goods and securities are in possession of borrowers creditor obtains an undertaking from the borrower that he will not create any charge on those securities without the prior permission of the creditor this kind of lien is called as negative lien.

WHAT IS LIEN?

Sunday, 27 September 2009 21:53 Raghwendra Nath Pandey

Lien is the right of a creditor to retain in his possession the goods and securities owned by the debtor until the debt has been discharged but it is not the right of sale of goods and securities so retained.

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