Knowledge - 'Rights of Unpaid Seller'

Rights of Unpaid Seller

Meaning of Unpaid Seller

Section 45 defines an unpaid seller as follows:

The seller of goods is deemed to be an unpaid seller:

(a) when the whole of the price has not been paid or tendered,

hen a bill of exchange or other negotiable instrument has been received as conditional payment and the condition on which it was received has not been fulfilled by reason of the dishonour of the instrument.

Sub-section (2) of Section 45 has extended the definition of seller to include any person who is in the position of a seller such as an agent of the seller to whom a bill of lading has been endorsed, or a consignor who has himself paid the price.

Added: 5 years ago