define an unpaid seller. Explain his rights under contract of sale.
Answer (1)
29th Feb, 2020
Hello aspirant
An unpaid seller is one who has not been paid or tendered the whole of the price or one who receives a bill of exchange or other negotiable instrument as conditional payment and the condition on which it was received has not been fulfilled by reason of the dishonor of the instrument or otherwise.
Rights against buyer:-
- Suit for the price
- Suit for the damages
- Suit for interest
- Repudiation of the contract before the due date
Rights against goods:-
- Lien
- Stoppage
- Resale
Hope this helps
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