Asked by Chris Gladden on May 25, 2024
Verified
A[n] ________ lien is a lien that is created solely through statute, regardless of whether the debtor wishes the lien to be created.
A) Consensual
B) Statutory
C) Judgment
D) Approved
E) Evaluated
Statutory Lien
A right to keep possession of property belonging to another person until a debt owed by that person is discharged, as prescribed by statute.
- Understand the concept and implications of statutory liens on property.
Verified Answer
NV
Nahjea vassallMay 30, 2024
Final Answer :
B
Explanation :
A statutory lien is created by law (statute) without the need for the debtor to agree or consent to it.
Learning Objectives
- Understand the concept and implications of statutory liens on property.
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