Rights of an unpaid seller

Rights of an unpaid seller:

Who is an unpaid seller?

A seller of goods is deemed to be an unpaid seller when—

1.the whole of the price has not been paid or tendered.

2.a bill of exchange or other negotiable instrument has been received as a conditional payment, anon on which it was the condition on which it was received has not been fulfilled by reason of dishonor.

The following conditions must be fulfilled before a seller of goods can be deemed to be an unpaid seller:

1.he must be unpaid and the price must be due.

2.he must have an immediate right of action for the price.

3.a bill of exchange or other negotiable instrument was received but the same of has been dishonoured.

When a payment is made by a negotiable instrument it is usually a conditional payment, the condition being that the instrument shall be duly honourd.

Seller here means not only the actual seller, but also any person who is in the position of a seller.