North Dakota Code 35-20-05 – Vendor’s lien on personalty – Dependent on possession – Enforced as pledge
Current as of: 2023 | Check for updates
|
Other versions
One who sells personal property has a special lien thereon, dependent on possession, for its price, if it is in that person‘s possession when the price becomes payable, and may enforce that person’s lien in like manner as if the property was pledged to that person for the price.
Terms Used In North Dakota Code 35-20-05
- Dependent: A person dependent for support upon another.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49
- Property: includes property, real and personal. See North Dakota Code 1-01-49