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specific perfected lien

Defined in 1 dictionary — Case Law

Definitions from Case Law

From 298 U.S. 544 - United States v. Knott · 1936Most cited · 141 citing opinions

[The deposit's trust-fund character] appears to have been used to connote an inchoate general lien for the benefit of those persons who may become entitled to be paid from the proceeds, either as unsatisfied judgment creditors, or as Florida creditors at the time when insolvency supervenes. Such an interest lacks the characteristics of a specific perfected lien which alone bars the priority of the United States.