Given below are two statements: One is labelled as Assertion A and the other is labelled as Reason R.
Assertion (A): ‘Lien’ is the right to retain possession of goods and refuse to deliver them to the buyer until the price due in respect of them is paid or tendered.
Reason (R): An unpaid seller in possession of goods sold is entitled to exercise his hen on the goods where the goods have been sold without any stipulation as to credit.
In the Light of the above statements’ choose the most appropriate answer from the options given below:

Correct option is C

Assertion is correct as Lien is the right to retain possession of goods of another person till a certain claim upon that person is not satisfied.
Unpaid seller is granted a lien over the goods of the buyer until the price is not paid by the buyers.
Reason is not correct as an unpaid seller in possession of goods sold is not entitled to exercise his lien on the goods where the goods have been sold without any stipulation as to credit.
Lien is available only if the following requirements are fulfilled.
 Buyer has not paid or offered to pay the whole price to the seller
 No credit is given to the buyer if given credit period has expired.
 Negotiable instrument which was conditional payment to the seller has become insolvent
 Buyer has become insolvent.