What are the essential conditions for exercising the right of lien by Banker?

Answer:

a)  The goods or securities over which the right of lien shall be exercised must be in the possession of Bank.

b)  There must be a lawful advance due to the bank.

c)  There shall be no contract contrary to lien

d)  Goods or securities over which right of lien shall be exercised must be suitably discharged in favor of bank.