The lien on the goods arises on the following situations: (1) where the contract does not state that the buyer is to have a credit or credit line, so that payment may be required upon delivery, (2) where the goods have been sold on credit, the term of credit has expired without payment being made, and the seller still has possession of the goods, (3) where the buyer becomes insolvent before delivery, and (4) where the seller waives the right of lien. From the choices above, please select that applies to lien. a. 2, 3 & 4 b. 1, 2 & 3 only c. 1 & 2 only d. 1, 2, 3 & 4
