unpaid seller

unpaid seller
a seller of goods is an unpaid seller within the meaning of the Sale of Goods Act 1979 when the whole price has not been paid or tendered or when a bill of exchange or other negotiable instrument has been received as conditional payment and the condition on which it was received has not been fulfilled by reason of the dishonour of the instrument or otherwise. Such a seller is entitled to the remedies provided in the Act lien, a right of retention and if the buyer is insolvent (insolvency the right of stoppage in transit.

Collins dictionary of law. . 2001.

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  • seller, unpaid — See unpaid seller. Collins dictionary of law. W. J. Stewart. 2001 …   Law dictionary

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  • DDU — ( Delivered Duty Unpaid) Seller fulfills the contract obligations when the goods have arrived at a named place in the importing country. The seller bears all the costs and risk except for import duties and other customs clearance costs. Bloomberg …   Financial and business terms

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