Nadine has taught nursing for 12 years and has a PhD in Nursing research. In this lesson, you'll learn the definition and characteristics of a scientific theory and understand how theories are formulated. You'll see examples of scientific theories, and after the lesson you can test your knowledge with a brief quiz.
A vendorâs lien is a claim held by a seller on either personal property or real estate, allowing the seller to repossess the property under certain circumstances. It most commonly kicks in when a buyer has fallen behind on payments relating to the property.
The Vendor referred to in Vendor's lien is the 'Seller'. It's the sellers way of securing any unpaid debt of the buyer when the agreement is made to sell/purchase the property. Often seen when the new buyer is possibly taking over a payment or debt already owed on the property.