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.
Vendor's Lien Law and Legal Definition. A vendor's lien is the right of a seller to repossess the property sold until the buyer makes all payments for the full purchase price. The property is the collateral given as security to the seller for the purchase price. It is sometimes used in connection with a purchase money mortgage on real estate.