CA Foundation Exam > CA Foundation Questions > Seller has right of resale wherea)Goods are p...
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Seller has right of resale where
- a)Goods are perishable
- b)Seller has reserved such right
- c)Seller gives notice
- d)All of these
Correct answer is option 'A'. Can you explain this answer?
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Verified Answer
Seller has right of resale wherea)Goods are perishableb)Seller has res...
Right of Resale (Section 54) The right of resale is an important right for an unpaid seller.Unpaid seller resells the goods post exercising his right of lien or stoppage: The subsequent buyer acquires a good title to the goods even if the seller has not given a notice of resale to the original buyer.
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Seller has right of resale wherea)Goods are perishableb)Seller has res...
Explanation:
The right of resale refers to the seller's right to resell the goods that have been sold, but not paid for by the buyer or where the buyer has defaulted on payment. This right is subject to certain conditions, which are as follows:
Conditions for Right of Resale:
Therefore, the correct answer is option 'A' - the seller has the right of resale where the goods are perishable.
The right of resale refers to the seller's right to resell the goods that have been sold, but not paid for by the buyer or where the buyer has defaulted on payment. This right is subject to certain conditions, which are as follows:
Conditions for Right of Resale:
- Goods are perishable: The seller has the right of resale in cases where the goods are perishable, i.e., they are likely to decay or spoil within a short period of time. In such cases, the seller cannot afford to wait for the buyer to make payment, as the goods will lose their value over time. Therefore, the seller can resell the goods to recover the cost of the sale.
- Seller has reserved such right: The seller may reserve the right of resale at the time of the sale itself. This right can be reserved by including a specific clause in the sale agreement. The clause should clearly state the conditions under which the seller can exercise this right.
- Seller gives notice: The seller must give notice to the buyer before exercising the right of resale. This notice should be given in writing and should specify the time and place of the resale. The notice should also give the buyer an opportunity to pay for the goods before the resale takes place.
Therefore, the correct answer is option 'A' - the seller has the right of resale where the goods are perishable.
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Community Answer
Seller has right of resale wherea)Goods are perishableb)Seller has res...
According to sale of goods act 1930 the seller has right of resale if the goods are perishable in nature ..such a case the buyer need not informed of intention of resale .
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Seller has right of resale wherea)Goods are perishableb)Seller has reserved such rightc)Seller gives noticed)All of theseCorrect answer is option 'A'. Can you explain this answer?
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