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Judiciary Exams Exam  >  Judiciary Exams Tests  >  Civil Law for Judiciary Exams  >  Test: Rights of an Unpaid Seller under Sale of Goods Act - Judiciary Exams MCQ

Test: Rights of an Unpaid Seller under Sale of Goods Act - Judiciary Exams MCQ


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10 Questions MCQ Test Civil Law for Judiciary Exams - Test: Rights of an Unpaid Seller under Sale of Goods Act

Test: Rights of an Unpaid Seller under Sale of Goods Act for Judiciary Exams 2024 is part of Civil Law for Judiciary Exams preparation. The Test: Rights of an Unpaid Seller under Sale of Goods Act questions and answers have been prepared according to the Judiciary Exams exam syllabus.The Test: Rights of an Unpaid Seller under Sale of Goods Act MCQs are made for Judiciary Exams 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Rights of an Unpaid Seller under Sale of Goods Act below.
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Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 1
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What is the significance of reciprocal promises in a sales contract?

Detailed Solution for Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 1
Reciprocal promises play a crucial role in a sales contract as they represent commitments made by both the seller and the buyer. Each party promises to deliver or perform something in exchange for the other party's promise. This mutual agreement forms the foundation of the contract, ensuring that both sides fulfill their obligations to complete the transaction successfully.
Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 2
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In a sales contract scenario, what does Section 2(f) of the Indian Contract Act primarily refer to?

Detailed Solution for Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 2
Section 2(f) of the Indian Contract Act primarily focuses on the concept of quid pro quo in a sales contract. It highlights the obligation of the seller to deliver the goods sold and the buyer's responsibility to provide payment or something of value in return. This legal principle emphasizes the mutual exchange of promises and benefits between the parties involved in a contractual agreement.
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Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 3
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How are reciprocal promises exemplified in an online book purchase transaction?

Detailed Solution for Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 3
In an online book purchase transaction, reciprocal promises are demonstrated by the seller's commitment to deliver the book and the buyer's promise to pay the price upon delivery. These promises are interdependent, meaning that the seller's obligation to provide the book is contingent upon the buyer fulfilling their commitment to make the payment. This mutual agreement forms the basis of the sales contract, ensuring that both parties uphold their responsibilities for a successful transaction.
Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 4
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What defines an unpaid seller under the Sale of Goods Act?
Detailed Solution for Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 4
An unpaid seller is characterized by various conditions, including when the seller has received a bill of exchange, promissory note, or cheque that are dishonored. This situation arises when the buyer fails to fulfill the payment obligations, leading to the seller being classified as an unpaid seller under the Sale of Goods Act.
Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 5
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In what situation is a buyer considered to have not completed the payment for goods as per the agreed terms of the sale?
Detailed Solution for Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 5
When a buyer has not paid the full price for goods in accordance with the agreed terms of the sale, they are considered to have not completed the payment. This discrepancy between the actual payment made and the total amount due signifies an incomplete transaction, making the buyer liable for the remaining balance owed to the seller.
Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 6
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What term is used to describe a situation where the buyer's payment is contingent upon the successful delivery of the goods?
Detailed Solution for Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 6
Conditional payment refers to a scenario where the buyer's payment is subject to certain conditions, such as the successful delivery of the goods. This ensures that the buyer only pays once the specified conditions are met, reducing the risk of non-delivery or unsatisfactory goods.
Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 7
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Who is considered an unpaid seller under the Sale of Goods Act, and why is it important to understand this concept for buyers and sellers?
Detailed Solution for Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 7
An unpaid seller under the Sale of Goods Act is a seller who has not received full payment for the goods sold. Understanding this concept is crucial for both buyers and sellers to navigate legal obligations and rights effectively. It helps in determining the rights of the seller to reclaim the goods, recover the price, or take legal action in case of non-payment, providing clarity and protection in commercial transactions.
Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 8
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What does the right of lien provide for an unpaid seller under the Sale of Goods Act?
Detailed Solution for Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 8
The right of lien, as granted to an unpaid seller under the Sale of Goods Act, allows the seller to retain possession of the goods until the payment is made. This right is crucial in ensuring that the seller has some form of security in case the buyer fails to fulfill their payment obligations. It is a protective measure that helps safeguard the interests of the seller in commercial transactions.
Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 9
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What event leads to the termination of the right of lien for an unpaid seller as per the Sale of Goods Act?
Detailed Solution for Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 9
The termination of the right of lien for an unpaid seller occurs when the buyer or their agent legally acquires possession of the goods. Once the buyer has officially taken possession of the goods, the unpaid seller's right to retain them until payment is made ceases to apply. This marks the point at which the seller must rely on other legal avenues to secure payment if necessary.
Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 10
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What recourse does the unpaid seller have if losses are incurred on resale due to a breach of contract?
Detailed Solution for Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 10
If losses are incurred on resale due to a breach of contract, the unpaid seller has the right to claim damages for the losses suffered. This legal recourse is essential for protecting the seller's financial interests and ensuring that they are compensated for any harm caused by the buyer's default. It reinforces the importance of contractual agreements in commercial transactions and provides a mechanism for addressing breaches in a fair and equitable manner.
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