15:14
its what you do with it
Warning
Info
Warning
Info
LSDefine
Simple English definitions for legal terms
retention
Read a random definition: sans frais
A quick definition of retention:
Retention is a legal term that means a person has the right to keep something until they are paid for it or until their claim against it is satisfied. It's like a security deposit. For example, if you borrow your friend's bike and you damage it, your friend has the right to keep the bike until you pay for the repairs. Retention can also refer to a person's right to keep all of someone's property as security for a debt, or to keep property owned by someone else until they are reimbursed for expenses related to that property's care and maintenance.
A more thorough explanation:
Definition: Retention is a legal term used in Scots law to describe a possessor's right to keep a movable until their claim against the movable or its owner is satisfied. This is also known as a lien. There are two types of retention: general retention and special retention.
General retention is a possessor's right to keep all property owned by a debtor as security for the debt.
If a person owes money to a creditor, the creditor may have the right to keep all of the debtor's property until the debt is paid off. This means that the debtor cannot sell or dispose of their property until the debt is settled.
Special retention is a possessor's right to keep property owned by another until reimbursed for expenditures on the property for its repair or for its care and maintenance.
If a person owns a car and leaves it with a mechanic for repairs, the mechanic may have the right to keep the car until they are paid for the repairs. This means that the owner cannot take the car back until they have paid the mechanic for their services.
These examples illustrate how retention works in Scots law. It allows a possessor to hold onto property until their claim is satisfied, whether it be for a debt owed or for expenses incurred on the property.