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Difference between revisions of "Creditors' Remedies against Debtors (10:III)"
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Creditors' Remedies against Debtors (10:III) (view source)
Revision as of 22:51, 10 August 2022
, 22:51, 10 August 2022→a) Possessory Lien and Right to Sell
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Under the ''Repairer’s Lien Act'' [''RLA''] RSBC 1996, c 404 [''RLA''] every mechanic or other person who has bestowed money, skill or materials upon any chattel for its improvement, has a common-law possessory lien on the chattel while it remains in their possession. The lienholder may keep the chattel until paid. Where the person holds the chattel for 90 days, they may sell it upon compliance with statutory provisions (s 2). If the lienholder gives up possession prior to filing a lien, they lose the lien (except with liens on automobiles and aircraft, etc.) and are restricted to ordinary remedies in court. | Under the ''Repairer’s Lien Act'' [''RLA''] RSBC 1996, c 404 [''RLA''] every mechanic or other person who has bestowed money, skill or materials upon any chattel for its improvement, has a common-law possessory lien on the chattel while it remains in their possession. The lienholder may keep the chattel until paid. Where the person holds the chattel for 90 days, they may sell it upon compliance with statutory provisions (s 2). If the lienholder gives up possession prior to filing a lien, they lose the lien (except with liens on automobiles and aircraft, etc.) and are restricted to ordinary remedies in court. | ||
'''NOTE:''' The Commercial Liens Act received Royal Assent on March 31st, 2022, but has not yet come into force. It will come into force by regulation of the Lieutenant Governor in Council. The act overhauls commercial liens, and repeals several lien acts, including the Repairers Lien Act. | |||
=== 3. Liens on Automobiles, Aircrafts, Boats and Outboard Motors === | === 3. Liens on Automobiles, Aircrafts, Boats and Outboard Motors === | ||