factor's lien
- A legal claim that a factor, or an agent in charge of selling goods, has on items in their custody as collateral to ensure payment of the owed amount
- Because the consignor did not pay the agreed amount on time, the factor's lien applied and the factor kept possession of the goods.
- The unpaid balance by the company triggered a factor's lien on the consigned merchandise held by the sales agent.
- The factor exercised their right of a factor's lien to ensure they received the due amount from the seller.
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