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Prof. Jenny Pinto delivered this lecture for Technical Writing course at Laxmibai National Institute of Physical Education. It includes: Rights, Unpaid, Seller, Goods, Buyer, Credit, Lien, Agent, Bailee, Transmission, Stoppage
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Unpaid Seller A seller of goods is deemed an unpaid seller when thewhole of goods has not been paid/tendered or a bill of exchange or other negotiable instrument, received asconditional payment, has been dishonored.
Rights of Unpaid Seller Rights against Goods Rights against Buyer Rights against Seller
Right of Lien is the right to retain possession of goods
This right can be exercised in following cases:
1. When goods are sold for cash and not on credit.
2. When goods are sold on credit but the term of credit has expired.
3. When the buyer become insolvent, even if the period of credit has not expired.
The unpaid seller loses his right of lien in the following cases: 1. When he delivers the goods to a carrier or other bailee for transmission to the buyer. 2. When the buyer or his agent lawfully obtains possession of goods. 3. When the seller waves his right of lien on goods.
4. The right of lien once lost will not restore even if the buyer delivers the goods to the seller for any specific purpose. 5. When the buyer further sells the goods and the seller agrees.
The unpaid seller can stop the goods in transit and take them into his possession in the following cases:
The unpaid seller can resell the goods in following cases:
The unpaid seller has the following rights against the buyer:
4. Right of Cancellation and Sue for Damages When there is a breach of condition by the seller, the buyer can avoid the contract and claim for damages. 5. Recovery of Price with interest: If the buyer has already paid the price to the seller and the seller does not deliver the goods to the buyer, he can sue the seller for refund of the price and interest.
Auction sale is a public sale where different buyers come to buy the goods. The goods are sold to the highest bidder. A person may himself sell his own goods by auction or he may appoint an agent called auctioneer to conduct the sale on his behalf.
2. Completion of Sale:
The sale complete when the auctioneer announces its completion by fall of the hammer or in any other customary manner.
3. Withdrawal of Bid:
Until such announcement is made, any bidder may retract from his bid as he is not bound till the sale is complete.
4. Right of Seller to Bid:
The seller or any other person on his behalf can bid at the auction, provided such a right to bid has been expressly reserved at the time of notifying the auction sale but if the right is not expressly reserved, then such bidding may be treated as fraudulent by the buyer.
7. Agreement not to Bid:
An agreement between intending buyers not to bid against each other is not illegal. When a group of persons agree to prevent competition between them at an auction and decide that only one of them will bid, it is not an illegal act.
8. Seller’s Right:
The auctioneer can refuse to sell goods on credit and accept payment by means of negotiable instrument.
9. Advertisement of Auction:
An advertisement of an auction is only an invitation to offer and can be cancelled any time without any public notice.
