A Commercia

l Law Presentati

on

IIPM

Meaning of Unpaid Seller

Rights of Unpaid Seller

Auction Sale

Sale of Goods Act, 1930

IIPMUnpaid SellerUnpaid Seller?

When the whole of the price has not been paid or

tendered.

When a bill of exchange or other negotiable instrument has been

received as conditional payment, and it has been dishonored.

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Rights of an Unpaid Seller

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Where the property in goods has passed to

the buyerRight of Lien

Right of Stoppage of Goods in Transit

Right

of

Res

ale

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Right of Lien[Sec 47, 48 & 49]

Meaning of Right of

Lien

Circumstances under

which Right of Lien can

be Exercised

Circumstances under

which Right of Lien is

Lost

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Right of Stoppage of goods in Transit

Meaning of Right of

Stoppage of goods in Transit

Conditions under which Right of

Stoppage in Transit can be Exercised.

Conditions under which

Right of Stoppage is Lost

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Right of Resale

Circumstances under which Unpaid Seller can Resell.

Effects of Resell With or Without Notice.Rights In case of Resale

after NoticeIn case of Resale without Notice

1. Unpaid Seller’s Right to recover the loss on Sale

Available Not Available

2.Original Buyer’s Right to recover the profit on Sale.

Not Available Available

3. New Buyers Right to Acquire a good title

Available Available

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Where the property in goods has not passed

to the buyer

The unpaid seller has in addition,

To his other remedies,

A right of withholding delivery similar to and coextensive with his rights of lien and stoppage in transit where the property has passed to the buyer

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Against the Buyer Personally

Suit for Price

Suit for Damages for

Non-acceptance

Suit for Damages for

Repudiation of Contract

Suit for Interest

IIPMAuction Sale

Meaning of Auction Sale

Rules regarding Sale by Auction

By :

Ankit GuptaRohit NayyarUrvashi AryaYajnaseni MehtabTasavur Zaidi