who is an unpaid seller and circumstances under which he can be entitle to lien

Forums Sale of Goods Act, 1930 who is an unpaid seller and circumstances under which he can be entitle to lien

  • Creator
    Topic
  • #3738
    Piyush_Kumar
    Participant

    The Sale of Goods Act, 1930 (hereinafter referred to as the “Act”) defines an unpaid seller as a seller that has not been paid the full price of the goods that have been sold or that has received a bill of exchange or other negotiable instrument as conditional payment, and the condition on which it was received has not been fulfilled
    The rights provided to an unpaid seller, under the Act, are dependent on whether the property in the goods has passed to the buyer or not. An unpaid seller of the goods, the property in which has passed to the buyer, in entitled to exercise the following rights

    Right of lien on the goods for the price while he is in possession of them;
    Right to stop the goods in transit after he has parted with the possession of the goods (incase the buyer becomes insolvent); and
    Right to re-sell the goods (subject to the goods being of a perishable nature or the unpaid seller exercising its right of lien or stoppage in transit )

  • You must be logged in to reply to this topic.
Comments are closed.