21:09
at the berk decision lmao
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LSDefine
Simple English definitions for legal terms
carrier's lien
Read a random definition: tacit-relocation doctrine
A quick definition of carrier's lien:
A carrier's lien is when a company that transports goods has the right to keep those goods until they are paid for their services. It's like a security deposit. If someone doesn't pay for shipping, the company can keep the goods as payment.
A more thorough explanation:
A carrier's lien is a type of lien that gives a security interest in shipped goods to a shipper that publicly operates a business for the transportation of goods. This means that if someone fails to pay for shipment as promised, the carrier can keep the goods as collateral until they are paid.
For example, if a company hires a trucking company to transport their goods from one location to another, the trucking company has a carrier's lien on those goods until they are paid for their services. If the company fails to pay, the trucking company can keep the goods as collateral until they receive payment.
Another example would be a shipping company that transports goods overseas. If the recipient of the goods fails to pay for the shipping costs, the shipping company can keep the goods as collateral until they receive payment.
These examples illustrate how a carrier's lien gives the carrier the right to keep the goods as collateral until they are paid for their services. This provides a level of security for the carrier and ensures that they are compensated for their work.