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Unpaid Seller
By Bharat Galani MeraSkill.com Š MeraSkill
Unpaid Seller
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Index Who is unpaid seller Rights of an unpaid seller Remedies for Buyer against seller Auction Sale
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Who is unpaid Seller
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Who is an Unpaid Seller? i) Whole of the price Not paid ii) Conditional Payment -BOE or Cheque Dishonoured
Note:- Part payment left ₹100, ₹1 not paid - Not unpaid seller before credit period. Unless Insolvent
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Who is an Unpaid Seller? 1. A sold goods to B for ₹1000. B paid only ₹ 990 but failed to pay the balance. 2. A sold goods to B for ₹1000 and received cheque. Cheque dishonoured. 3. A sold goods to B for ₹1000 on one month credit. One month has not expired. 4. A sold goods to B for ₹1000 on one month credit. One month has expired. 5. A sold goods to B for ₹1000 on one month credit. B became insolvent . © MeraSkill
Rights of Unpaid Seller
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Rights of an Unpaid Seller
Against Buyer - Jus in Personam
Against Goods - Jus in Rem
Agreement to Sale
Sale
Sue for Price
Sue for Damages Lien Stoppage in Transit
+
Withhold Delivery
Sue for Interest
Resale
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Right to Lien 1. Right to Lien = retain the possession 2. Right only for unpaid price not other expense or claim 3. Right to lien is available only in following cases:i) Sold without credit ii) If sold on Credit, credit period has expired iii) Buyer became Insolvent, whether credit period expired or not 4. Seller loses right to lien when:i) He delivers to carrier for transmission without reserving right to disposal ii) Buyers obtains lawful possession iii) Seller waived off right to lien iv) By Estoppel: Buyer dispose of goods with the consent of seller. v)Where document of title has been issued to buyer & buyer transfer documents other person in good faith & consideration.
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