Abstract: A lock device in the form of a padlock has a shackle and a retaining cable connected to the lock case. The shackle has a heel-piece permanently retained slidably and rotatably in the case of the padlock and is urged upwardly in the unlocked position by a spring. The retainer cable has a yoke at one end which is received in a slot in the side of the lock case and captured within the case by the lower portion of the shackle which slides up and down through the yoke as the shackle is moved up and down between the locked and unlocked positions. The free end of the retaining cable may be secured to a convenient structure in close proximity to where the lock will be used to maintain the lock at the use location whereby the lock may be secured at the use location either in its locked or unlocked condition.