Economics · Legal Aspects of Business
Given below are two statements: One is labelled as Assertion (A) and the other is labelled as Reason (R). Assertion (A): 'Lien' is the right to retain possession of goods and refuse to deliver them to the buyer until the price due in respect of them is paid or tendered. Reason (R): An unpaid seller in possession of goods sold is entitled to exercise his lien on the goods where the goods have been sold without any stipulation as to credit. In the light of the above statements, choose the most appropriate answer from the options given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Both (A) and (R) are correct and (R) is the correct explanation of (A)✓
- 2Both (A) and (R) are correct but (R) is NOT the correct explanation of (A)
- 3(A) is true but (R) is false
- 4(A) is false but (R) is true
Correct answer
Both (A) and (R) are correct and (R) is the correct explanation of (A)
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