Right of lien

Short Notes on Caveat Emptor and Unpaid Seller

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Short Notes on Caveat Emptor and Unpaid Seller

Caveat Emptor (Let the Buyer Beware) The Latin term “Caveat Emptor” means “let the buyer beware.” It is a principle of commerce where the buyer is responsible for assessing the quality and suitability of a product before purchasing it. Concept: This doctrine emphasizes that the seller is not obligated to disclose all the details about … Read more

Discuss the rights of an unpaid seller and the rights of a buyer in different circumstances.

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Discuss the rights of an unpaid seller and the rights of a buyer in different circumstances.

Unpaid Seller A seller becomes unpaid seller when he/ she fails to get the whole payment from the buyer in time or when the bank dishonors the negotiable instrument received by him for payment. The Contract Act, 2056 has not defined the term unpaid selller. Section 45(2) of Indian Sale of goods Act, 1930 has … Read more