implied lien

implied lien
A lien which may be created in the absence of an express contract, based upon the fundamental maxims of equity and which may be implied and declared by a court of equity out of general considerations of right and justice as applied to the relations of the parties and the circumstances of their dealings. 33 Am J1st Liens § 21. The lien in favor of a vendor who has conveyed the legal title to real estate to a purchaser, as security for the unpaid purchase money. 55 Am J1st V & P § 462.

Ballentine's law dictionary. . 1998.

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Look at other dictionaries:

  • vendor's implied lien — See vendor s lien …   Ballentine's law dictionary

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  • implied banker's lien — A lien of a bank for the balance owing upon a general account upon the securities of the customer or depositor in the possession of the bank, implied from the usages of the banking business or the law merchant. 10 Am J2d Banks § 660 …   Ballentine's law dictionary

  • Vendor's lien — Vend or s lien (Law) An implied lien (that is, one not created by mortgage or other express agreement) given in equity to a vendor of lands for the unpaid purchase money. [Webster 1913 Suppl.] …   The Collaborative International Dictionary of English

  • vendor's lien — The implied lien of a vendor of real estate, who has conveyed the legal title, as security for the unpaid purchase money. 55 Am J1st V & P § 462. The express lien of a vendor of real estate under a provision of the contract that he is to retain… …   Ballentine's law dictionary

  • vendor's lien — noun : an implied lien given in equity to a vendor of lands for unpaid purchase money as against the vendee and volunteers under him …   Useful english dictionary

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  • equitable lien — A right, not existing at law, to have specific property applied in whole or in part to payment of a particular debt or class of debts. Morrison Flying Service v. Deming Nat. Bank, C.A.N.M., 404 F.2d 856, 861. An equitable lien arises either from… …   Black's law dictionary

  • equitable lien — A right, not existing at law, to have specific property applied in whole or in part to payment of a particular debt or class of debts. Morrison Flying Service v. Deming Nat. Bank, C.A.N.M., 404 F.2d 856, 861. An equitable lien arises either from… …   Black's law dictionary

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