Answer
Welcome, students, parents or teachers in this article we are going to give you the answer of Who is unpaid seller? and what are the Rights of unpaid seller. Take a note that in exams you can add more points in answer to score more. To earn extra marks you can explain it in about 300 words. Thanks for reading the answer.
Who is unpaid seller?
An unpaid seller is a seller of goods who has not received payment for the goods they have sold. This may occur when the buyer fails to pay for the goods, or if the payment is delayed or disputed. An unpaid seller may have certain rights under law, such as the right to retain possession of the goods until payment is received or the right to resell the goods.
11 Rights of unpaid seller
An unpaid seller, also known as a seller in possession, has several rights under the law to protect their interests in the sale of goods. These Rights of unpaid seller include:
- The right to retain possession of the goods until payment is received.
- The right to sell the goods to another buyer if payment is not received.
- The right to sue the buyer for the price of the goods.
- The right to sue for damages if the goods are resold at a lower price.
- The right to stop the goods in transit if payment is not received.
- The right to recover any expenses incurred in preserving or transporting the goods.
- The right to terminate the contract if the buyer breaches its terms.
- The right to sue for interest on the unpaid price.
- The right to sue for any loss incurred as a result of the buyer’s breach of contract.
- The right to set-off any claim against the buyer for any sum the buyer owes to the seller.
- It’s worth noting that these rights vary depending on the jurisdiction.
Also Read: Introduction of Human Rights in the Indian Legal System
