Daily Email Newsletters (Latest Updates/Articles) — Sign up for Free

Section 171, Contract Act 1872: General Lien Of Bankers, Factors, Wharfingers, Attorneys & Policy Brokers

Section 171 under the Chapter IX (Of bailment) of the Contract Act, 1872 of India - 'General lien of bankers, factors, wharfingers, attorneys and policy brokers', is reproduced hereunder:—

“Bankers, factors, wharfingers, attorneys of a High Court and policy brokers may, in the absence of a contract to the contrary, retain, as a security for a general balance of account, any goods bailed to them; but no other persons have a right to retain, as a security for such balance, goods bailed to them, unless there is an express contract to that effect.”




Extra Notes for Readers

(1) As to lien of an agent, see sec. 221, infra. As to lien of a Railway Administration, see the Indian Railways Act, 1890 (9 of 1890), sec. 55.

No comments:

Post a Comment