banker's lien

English

Noun

banker's lien (plural banker's liens)

1. (law) The right of a bank to satisfy a customer's matured debt by seizing the customer's money or property within the bank's possession.
   • 2003, Emmanuel T. Laryea, chapter 3, in Paperless Trade: Opportunities, Challenges and Solutions, →ISBN, page 177:

     As a banker's lien may arise in consequence of the customer's instruction to a bank to open credits without the need to prove an unequivocal act of deposition or intent to deposit the documents, a banker's lien is likely to arise where the bank is financing the transaction under a documentary credit or for debt relating to costs of TPF services provided.

Anagrams

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