§ Sec­tion 397 HGB Com­mis­si­on agen­t’s lien

Pledge of rights and rea­liza­ti­on rights of the mer­chant accor­ding to § 397 Com­mis­sío­närs­pfand­recht

Accor­ding to § 397 HGB, the com­mis­si­on agent has a sta­tu­to­ry pledge of rights from the goods on com­mis­si­on, inclu­ding the cos­ts, advan­ces and com­mis­si­ons used on the goods. The pre­re­qui­si­te for this is that he is in pos­ses­si­on of the goods, in par­ti­cu­lar that he can dis­po­se of them by means of bills of lading, con­sign­ment bills or warehouse receipts

(Cf. Marx/Arens Der Auk­tio­na­tor, 2004, p. 274).

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