Availability of lien
54(1)Subject to the provisions of this Act, the unpaid seller of goods who is in possession of them is entitled to retain possession of them until payment or tender of the price in the following cases:
(a)
when the goods have been sold without any stipulation as to credit;
(b)
when the goods have been sold on credit, but the term of credit has expired; and
(c)
when the buyer becomes insolvent.
54(2)The seller may exercise the seller’s right of lien even though the seller is in possession of the goods as agent or bailee or custodian for the buyer.
R.S.1973, c.S-1, s.38; 1982, c.3, s.71