CPT Chapter Unpaid Seller
With Bharat Galani.Duration:1hrs 41min
|Unpaid Seller||Duration (min:sec)|
|Who is unpaid Seller||18:41|
|Rights of an Unpaid Seller||09:29|
|Rights to Lien||14:05|
|Test for Right to Lien||04:41|
|Right to Stoppage in Transit||08:33|
|Right to Resale||07:09|
|Right Against Buyer||02:10|
|Remedies for Buyer against Seller||06:02|
Who is unpaid seller
Rights of an unpaid seller
Remedies for Buyer against seller
Who is an Unpaid Seller?
i) Whole of the price Not paid
ii) Conditional Payment -BOE or Cheque Dishonoured
- Part payment left ₹100, ₹1 not paid
- Not unpaid seller before credit period. Unless Insolvent
Right to Lien
Right to Lien = retain the possession
Right only for unpaid price not other expense or claim
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.
Right to Stoppage in Transit
Right to Stoppage in Transit is available
After Lien gets over
Only when buyer insolvent & goods are still in transit
Carrier - Independent person.
Right to Re-sale
1.Available if seller gives notice of reasonable time to buyer
2. If goods are of Perishable nature – No notice required
Selling property by inviting bids publicly
Sold to highest bidder.
Auctioneer is an agent of seller.
i. Sold on lots
ii. Completion of sale – fall of hammer, clap, etc.
iii. Reserve Price or Upset Price
iv. Reserve the Right to Bid
iv. Seller bids himself or through his agent - Inform
v. Pretended bidding - Fraudulent & voidable
vi. Rigging or Cartel formation-not allowed
CPT Exam Exposure
Show you appreciate by sharing!