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Rights of Property

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Rights of Property

Now, we will be taking about the conditions wherein the property rights have been passed to the buyer from the seller. Check out the different rights listed below:

Right of Lien

If you want to retain the ownership of goods until some charges are paid, then this is termed as the right of lien. On the other hand, if the seller has not made the payment, but is still in charge of the goods, then he too is entitled to take up the responsibility under cases wherein:

  • The goods were sold without any sort of stipulation
  • The goods were sold on credit, however, the credit term has expired of late
  • The buyer has become insolvent

If you have made a sale on credit, then chances are quite likely that the right of lien that you would have perhaps dreamt of would have been suspended. This right is directly associated with the ownership of the goods and not the title of the same. In fact, it can be rightly said that in now way its affected in case the seller has made a transfer of the document of the title. All he needs to do is posses the ownership of the goods, the rest will be in his side. On the other hand, if the buyer has transferred the document of title to any bona fide buyer, then it is quite disappointing to note that the lien of the seller is cancelled.

Right of Stoppage in Transit

If you as a seller has failed to make a desired payment as a result of which he was compelled to part with the ownership of the goods, then the right that is applicable under such situation is the Right of Stoppage in transit. However, the good news is that the seller out here enjoys the right to resume the ownership of the goods while they are still in the process of transit. Only an underpaid seller can enjoy this right and that too when the goods are on their way to transit and when the buyer has turned out to be insolvent. More specifically, the buyer is considered to be insolvent when he is not in a position to pay for his debts.

Right of Resale

With this third form of contract, the previously mentioned contracts may not add much to your goods of delivery value. After all, it would be of no use if the seller does not have the ownership to resell his goods. Under section 54, it is seen that a seller who is unpaid will enjoy restricted rights when it comes to reselling goods.

Similarly, you may also come by cases wherein the goods may not have been transferred to the buyers. Some of these are as follows:

Right of with Holding Delivery

In case the goods have not passed on to the buyer, you will find that the unpaid seller has every possible right to retain the goods delivery. He can also use some rights against the buyer on a personal basis. Some of the rights that sellers enjoy include:

  • Suit for Price
  • Suit for Damages for Repudiation of contract
  • Suit for Damages for Non-Acceptance
  • Suit for Interest

Related Topics:

  • Sale of Goods Act

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