CPT Chapter Unpaid Seller
With Bharat Galani.Duration:1hrs 41min
| Unpaid Seller | Duration (min:sec) |
| {modal https://www.youtube.com/embed/QNar2ObjCtw?autoplay=1;rel=0|width=780|height=439|title=Overview}Overview{/modal} | 02:11 |
| {modal https://www.youtube.com/embed/VE-p1ErAV-g?autoplay=1;rel=0|width=780|height=439|title=Who is unpaid Seller}Who is unpaid Seller{/modal} | 18:41 |
| {modal https://www.youtube.com/embed/QdIieijppjI?autoplay=1;rel=0|width=780|height=439|title=Rights of an Unpaid Seller}Rights of an Unpaid Seller{/modal} | 09:29 |
| {modal https://www.youtube.com/embed/1-AfvsDXavk?autoplay=1;rel=0|width=780|height=439|title=Rights to Lien}Rights to Lien{/modal} | 14:05 |
| {modal https://www.youtube.com/embed/-8hKuKQ9AAE?autoplay=1;rel=0|width=780|height=439|title=Test for Right to Lien}Test for Right to Lien{/modal} | 04:41 |
| {modal https://www.youtube.com/embed/NSavzuT6J4Y?autoplay=1;rel=0|width=780|height=439|title=Right to Stoppage in Transit}Right to Stoppage in Transit{/modal} | 08:33 |
| {modal https://www.youtube.com/embed/HpC-b2yV9Uk?autoplay=1;rel=0|width=780|height=439|title=Right to Resale}Right to Resale{/modal} | 07:09 |
| {modal https://www.youtube.com/embed/-5VPwcN9U9w?autoplay=1;rel=0|width=780|height=439|title=Right Against Buyer}Right Against Buyer{/modal} | 02:10 |
| {modal https://www.youtube.com/embed/mrccQvIRuzA?autoplay=1;rel=0|width=780|height=439|title=Quiz}Quiz{/modal} | 04:12 |
| {modal https://www.youtube.com/embed/qq7mZqeKplQ?autoplay=1;rel=0|width=780|height=439|title=Summary}Summary{/modal} | 00:46 |
| {modal https://www.youtube.com/embed/vwqEpas5aAA?autoplay=1;rel=0|width=780|height=439|title=Remedies for Buyer against Seller}Remedies for Buyer against Seller{/modal} | 06:02 |
| {modal https://www.youtube.com/embed/OklBAV4CpDc?autoplay=1;rel=0|width=780|height=439|title=Auction Sale}Auction Sale{/modal} | 12:52 |
| {modal https://www.youtube.com/embed/f1Ir1cL1_tA?autoplay=1;rel=0|width=780|height=439|title=Quiz}Quiz{/modal} | 09:21 |
| {modal https://www.youtube.com/embed/Th2nUtE1I6Y?autoplay=1;rel=0|width=780|height=439|title=Conclusion}Conclusion{/modal} | 01:02 |
| Total | 01:41:14 |
Notes
Index
Who is unpaid seller
Rights of an unpaid seller
Remedies for Buyer against seller
Auction Sale
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
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
Auction Sale
Selling property by inviting bids publicly
Sold to highest bidder.
Auctioneer is an agent of seller.
Note:-
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
Transfer of ownership and Delivery
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