Question

What is Lien Concept?

A A legal right Correct Answer Incorrect Answer
B Financial liability Correct Answer Incorrect Answer
C Related to Loan Correct Answer Incorrect Answer
D A mandatory right Correct Answer Incorrect Answer
E None of the above Correct Answer Incorrect Answer

Solution

A lien is a legal right to claim a security interest in a property provided by the owner of the property to the creditor. It is generally used as a guarantee for some sort of legal obligation such as loan repayment.

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