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What is Automatic Appropriation in Liens about?

This document defines and explains several legal concepts: 1) A possessory lien gives a creditor the right to keep possession of property until a debt is satisfied, such as goods sold on credit or where the credit term has expired. 2) A pactum commissorium allows automatic appropriation of pledged or mortgaged property by the creditor if the debtor fails to pay the principal obligation. 3) Foreclosure is the process where a creditor takes possession of mortgaged property if the mortgagor fails to make

Author

YanaKarunungan

Language

EN