Post on 05-Dec-2014
description
transcript
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.
IIPM
Rights of an Unpaid Seller
IIPM
Where the property in goods has passed to
the buyerRight of Lien
Right of Stoppage of Goods in Transit
Right
of
Res
ale
IIPM
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
IIPM
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
IIPM
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
IIPM
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
IIPM
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