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TRANSFER OF PROPERTY &
UNPAID SELLER
PRESENTED BY:SUMIT SAHA
SATYABRAT MUDULI
AMIT RANJAN
ANIL KUMAR SWAIN
MANISA DASSUBHRANTIKA PATTNAYAK
PRITA ROY
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TRANSFER OF PROPERTY
Transfer of Property in goods means transfer ofownership of goods from seller to buyer.
It is different from possession of goods
Where possession of goods means control ofgoods
In case of sale,the property of goods istransfered from seller to buyer immediately
In case of agreement to sale, transfer of propertyis take place at future period of time
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IMPORTANCE OF TRANSFER OFPROPERTY
RISK FOLLOWS OWNERSHIP
ACTION AGAINEST THIRD PARTIES
INSOLVENCY OF THE SELLER OR BUYER
SUIT FOR PRICE
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PASSING OF PROPERTY
when the property in goods passes as to the buyer asfollows
Goods must be ascertained:The property ofgoods is transfered from seller to buyeronly goods is ascertained.
INTENTION OF PARTIES:When there is a
contract for the sale of the ascertainedgoods, the property in them passes to thebuyer at the parties intend it to pass
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2.Unascertained goods
3.Goods sent on approval or on sale orreturn
i.when the buyer signifies his approvalor acceptance to the seller
ii.when buyer does any other actadopting the transcation.
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Transfer of Title by Non Owner
1. Title by estoppel
2. Sale by mercantile agent
3. Sale by co-owner
4. Sale by person in possession of goods undervoidable contract
5. Sale by seller in possession after sale
6. Sale by buyer in possession of goods7. Unpaid sellers right of resale
8. Sale under the provisions of other act.
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UNPAID SELLER
According to sec 45 (a) of the sale of goodsact 1930 the seller of good is deem to beunpaid seller when:-
A.The whole of price has not been paid ortendered
B.A bill of exchange or other negotiable
instrument was given as a payment,but thesame has been dishonoured,unless thispayment was an absolute,and not aunconditional payment.
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RIGHT OF AN UNPAID SELLER
A.RIGHT OF UNPAID SELLER AGAINST THE GOODS
1.RIGHT OF LIEN(SEC-47)
2.RIGHT OF STOPPAGE OF TRANSIT
3.RIGHT OF RESALE
CONTD.
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B.RIGHT OF UNPAID SELLER AGAINSTTHE SELLER
1.SUIT FOR PRICE(SEC 55)
2.SUIT FOR DAMAGES FOR NON ACCEPTANCE(SEC -56)
3.REPUDIATION OF CONTRACT BEFORE DUE DATE
4.SUIT FOR INTEREST[(SEC 61(2)(D)]
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RIGHT OF PARTIES IN CASE OF BREACHOF CONTRACT
[A].BUYERS RIGHT AGAINST SELLER (SEC57)
1.SUIT FOR NON DELIVERY
2.SUIT FOR SPECIFIC PERFORMANCE
3.SUIT FOR DAMAGES FOR BREACH OF CONTRACT
4.SUIT FOR RECOVERY OF PRICE
CONTD ..
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SELLERS RIGHT AGAINST THE BUYER(SEC 55-56)
1.SUIT FOR PRICE
2.DAMAGES FOR NONACCEPTANCE
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