Glossary entry (derived from question below)
Norwegian term or phrase:
beheftet med salgspant
English translation:
exposed to an unpaid (AmE) vendor's (BrE:) seller's lien
Norwegian term
beheftet med salgspant
in a credit agreement - I found on here that "salgspant" means "security for unpaid purchase" but unsure how it would be phrased in this sentence?
Thank you!
3 | (goods) exposed to an unpaid (AmE) vendor's (BrE:) seller's lien | Adrian MM. |
3 | subject to a lien | eodd |
Jun 8, 2022 06:47: Adrian MM. Created KOG entry
Proposed translations
(goods) exposed to an unpaid (AmE) vendor's (BrE:) seller's lien
> salgspant: seller's lien, Patrick Chaffey NOR/ENG Juridisk Ordbok.
Notes:
1. unpaid seller's lien is standard UK Sale of Goods Act terminology, as per UK commercial / business law syllabus.
2. lien has been imported North of the Border in 'no-Equity Law' Scotland from England, though charge is also used (Butterworth's Scots Law Glossary) but is too wide without being qualified in this context e.g. an equitable vs. legal charge, esp. with ref. to mortgages of land rather than of chatt. However, goods/personal property can be subject to charges ranking first, second, third etc. in priority.
3. There are various types of lien, like a mechanic's lien in the USA - applicable to land as well as motor cars /automobiles and wider than a tradesman's lien in E&W.
4. vendor vs. purchaser was used in UK land conveyancing up to 40 years when replaced by the user-friendlier buyer vs. selletr
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Note added at 6 hrs (2022-06-03 13:58:29 GMT)
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rather than of ..chattels.... (chattel mortgage = bill of sale in E&W).
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Note added at 4 days (2022-06-08 06:52:52 GMT) Post-grading
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Note that a non-possessory pledge in E&W might be called a chattel mortgage e.g. of a motor car the borrower ('chargor' or 'assignor') is allowed to retain possession of on a loan from the lender ('chargee' or assignee). It is also known as a conditional bill of sale by way of mortgage and is (alt. I have) regd. at the Royal Courts of Justice in London. A bill of sale absolute,as also used in the USA, is a receipt for purchase of e.g. a painting or TV set.
An unpaid vendor’s lien operates as a type of equitable charge giving the vendor full security in equity for payment of the agreed purchase price. It applies to freehold and leasehold property.
Define Loan secured by a lien on real property. means a loan on the security of any instrument which makes the interest in real property specific security
http://www.lexisnexis.co.uk/legal/guidance/unpaid-vendors-lien
http://www.investopedia.com/ask/answers/061715/what-difference-between-lien-and-encumbrance.asp
Discussion
https://www.proz.com/kudoz/norwegian-to-english/finance-gene...