The right to retain possession of goods until the contract price is paid is referred to as
Answer Details
The right to retain possession of goods until the contract price is paid is referred to as a lien.
A lien is a legal right that allows a person or business to hold onto property belonging to someone else, until a debt owed by the owner of the property is paid. In the context of goods, this means that the seller has the right to keep the goods until the buyer has paid the full amount for them.
Think of it like a security deposit: the seller is holding onto the goods as collateral until they receive payment in full. Once the buyer has paid, the lien is released and the buyer takes full possession of the goods.