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Right of lien is lost for the seller, when _____
  • a)
    Goods are delivered to the carrier
  • b)
    Buyer or his agent obtains possession of goods lawfully
  • c)
    Seller waives his right of lien
  • d)
    In all the above cases
Correct answer is option 'D'. Can you explain this answer?
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Right of lien is lost for the seller, when _____a)Goods are delivered ...
Loss of Right of Lien for the Seller

The right of lien is the right of the seller to retain possession of the goods until the buyer fulfills his payment obligations. This right serves as security for the seller in case the buyer fails to make payment. However, there are certain circumstances under which the seller loses his right of lien. Let's explore these circumstances in detail:

Goods are Delivered to the Carrier
When the goods are delivered to the carrier, the seller loses his right of lien. This means that if the seller hands over the goods to a transportation company or carrier for delivery to the buyer, he no longer has the right to retain possession of the goods. The seller's right of lien ceases to exist once the goods are in the possession of the carrier.

Buyer or His Agent Obtains Possession of Goods Lawfully
If the buyer or his authorized agent lawfully obtains possession of the goods, the seller loses his right of lien. This means that if the buyer, or someone authorized by the buyer, takes possession of the goods in a legal manner, the seller can no longer retain possession of the goods as a security for payment. Once the buyer has lawful possession, the seller's right of lien is extinguished.

Seller Waives his Right of Lien
The seller can voluntarily waive his right of lien, which results in the loss of this right. This means that the seller, by express agreement or conduct, gives up his right to retain possession of the goods until payment is made. Once the seller waives his right of lien, he cannot later claim it back.

In all the Above Cases
The correct answer to the question is option 'D' - the right of lien is lost for the seller in all the above cases. Whether the goods are delivered to the carrier, the buyer or his agent lawfully obtains possession, or the seller waives his right of lien, the result is the same - the seller's right of lien is no longer valid.

In conclusion, the right of lien is lost for the seller when goods are delivered to the carrier, the buyer or his agent obtains lawful possession of the goods, or the seller waives his right of lien. It is important for sellers to be aware of these circumstances to protect their interests and ensure timely payment for the goods sold.
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Right of lien is lost for the seller, when _____a)Goods are delivered ...
Right of lien is when the unpaid seller has option to retain the goods in his possession and not sent goods to buyer,bt this right will be lost if goods are delivered so that a seller can not retain the deliverd goods ,or buyer or any of his agent obtain the goods beacuse here also goids are not in the hands of seller to retain, or seller himself waives his right of lien because when seller himself declared that he'll not use this right then how can he use his right in case of any problem.so all these options are correct
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Right of lien is lost for the seller, when _____a)Goods are delivered to the carrierb)Buyer or his agent obtains possession of goods lawfullyc)Seller waives his right of liend)In all the above casesCorrect answer is option 'D'. Can you explain this answer?
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Right of lien is lost for the seller, when _____a)Goods are delivered to the carrierb)Buyer or his agent obtains possession of goods lawfullyc)Seller waives his right of liend)In all the above casesCorrect answer is option 'D'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Right of lien is lost for the seller, when _____a)Goods are delivered to the carrierb)Buyer or his agent obtains possession of goods lawfullyc)Seller waives his right of liend)In all the above casesCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Right of lien is lost for the seller, when _____a)Goods are delivered to the carrierb)Buyer or his agent obtains possession of goods lawfullyc)Seller waives his right of liend)In all the above casesCorrect answer is option 'D'. Can you explain this answer?.
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