unpaid seller conclusion
Answers
ANSWER :
❒ Unpaid Seller :-
According to Section 45 (a) of the Sales of Goods Act, 1930, the seller of goods is deemed to be an "Unpaid Seller" when —
- [i] The whole of the price has not been paid or tendered and the seller had an immediate right of action for the price;
- [ii] A bill of exchange or other negotiable instrument has was given as payment but the same has been dishonored, unless this payment was an absolute and not a conditional payment.
Any person who is in a position of a seller or is also a seller and may exercise the right conferred upon an "Unpaid Seller" in the the above mentioned circumstances.
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❒ Example of Unpaid Seller :-
- ❍ Mr. P sold his car to Mr. Q for Rs. 2,00,000. Mr. Q paid Rs. 1,50,000 but fails to pay the balance. Then, Mr. P is said to be an Unpaid Seller.
- ❍ Mr. X sold some goods to to Mr. Y for Rs. 60,000 and received a cheque for the full price. On presentment of the cheque in the back, the cheque was dishonoured by the bank. In this situation, Mr. X is called to be an Unpaid Seller.
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❒ Rights of an Unpaid Seller :-
[1] Rights of unpaid seller against the goods :
- ❍ Rights of Lien [Section 47]
- ❍ Right of stoppage in transit [Section 50 to Section 52]
- ❍ Right of re-sale [Section 54]
[2] Rights of unpaid seller against the buyer :
- ❍ Suit for price [Section 55]
- ❍ Suit for damages of non acceptance [Section 56]
- ❍ Repudiation of contract before due date [Section 60]
- ❍ Suit for interest [Section 61 (2)(d)]
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❒ Conclusion :
A seller is said to be an Unpaid Seller when only a part of the price of the goods is paid. Hence, the following conditions must be fulfilled before a seller of goods can be deemed to an Unpaid Seller —
- ❍ The seller of goods must be unpaid.
- ❍ The seller must have an immediate right of action for the price of goods.
Explanation:
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