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Judiciary Exams Exam  >  Judiciary Exams Tests  >  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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15 Questions MCQ Test - 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 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 fundamental duty of the seller in a sales contract according to the Indian Contract Act?

Detailed Solution for Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 1
The fundamental duty of the seller in a sales contract, as per the Indian Contract Act, is to deliver the goods sold. This obligation ensures that the seller fulfills their end of the agreement by providing the goods to the buyer as agreed upon. It forms the cornerstone of the contractual relationship between the parties involved.
Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 2
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In contract law, what do reciprocal promises entail?

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Reciprocal promises in contract law refer to mutual commitments exchanged between parties. This means that each party involved in the contract commits to doing something in exchange for the other party's promise. It highlights the interdependent nature of contractual agreements where both sides have obligations to fulfill.
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Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 3
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How are promises in a sales contract typically characterized?

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Promises in a sales contract are typically characterized as interdependent and reciprocal. This means that the promises made by the seller and the buyer are closely linked and dependent on each other. For example, in an online book purchase, the seller's promise to deliver the book is contingent upon the buyer's promise to pay the price upon delivery.
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?
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An unpaid seller under the Sale of Goods Act is characterized by the whole price of the goods not being paid. This means that the buyer has not completed the payment in full as per the agreed terms of the sale. For example, if Sarah purchases a laptop for $1000 but has only paid $800 so far, the seller would be considered unpaid until the full amount is settled.
Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 5
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What legal concept underpins the exchange of promises in a sale contract?
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The legal concept that underpins the exchange of promises in a sale contract is consideration. Consideration refers to something of value exchanged between parties in a contract, typically involving a promise to do something or refrain from doing something. It is a crucial element in contract law as it ensures that there is a mutual exchange that binds the parties to their promises.
Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 6
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How is an unpaid seller distinguished in case of dishonored financial instruments?
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When financial instruments like bills of exchange, promissory notes, or cheques are dishonored, the seller who previously held these instruments is then categorized as an unpaid seller. This change in status occurs because the non-payment or dishonor of these instruments affects the seller's position in the transaction.
Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 7
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What does the right of lien grant an unpaid seller the authority to do?
Detailed Solution for Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 7
The right of lien provides the unpaid seller with the authority to retain possession of the goods until the payment is made. This right is crucial for the seller as a form of security to ensure that they receive the due amount from the buyer. It is applicable in situations where goods are sold without credit terms, when the credit term has expired, or if the buyer becomes insolvent.
Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 8
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What happens to the right of lien if the seller hands over the document of title to the goods?
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Even if the seller hands over the document of title to the goods, the right of lien remains valid. The possession of the goods is crucial for the seller to exercise the right of lien, regardless of whether the document of title has been transferred.
Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 9
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When can an unpaid seller terminate the right of lien on goods?
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The right of lien can be terminated if the goods are handed to a carrier or bailee for transmission without retaining the right of disposal. In such a situation, the seller loses the authority to retain possession of the goods under the right of lien.
Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 10
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What is the primary condition that grants the seller the right of stoppage in transit?
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The primary condition that allows the seller to exercise the right of stoppage in transit is when the buyer becomes insolvent. In such a scenario, the seller has the legal right to stop the goods during transit, reclaim control, and potentially prevent further financial loss. This right serves as a protective measure for sellers in cases where buyers are unable to fulfill their payment obligations, safeguarding the seller's interests in the transaction.
Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 11
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Under what circumstances does the right of stoppage in transit apply?
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The right of stoppage in transit applies when the goods are in transit, meaning they are not in the seller's possession and have not yet been received by the buyer, and the buyer is insolvent. In this situation, the seller retains the right to stop the goods during transit, even after losing physical possession, to protect their interests in the transaction. This right serves as a mechanism to mitigate potential losses in cases where the buyer's insolvency raises concerns about payment and fulfillment of the transaction.
Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 12
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What conditions permit an unpaid seller to resell goods without notice?
Detailed Solution for Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 12
The conditions that allow an unpaid seller to resell goods without notice include the immediate resale option for perishable goods and the requirement of notice for non-perishable goods. This provision ensures that the seller can efficiently manage the sale of goods based on their perishable nature or the need to inform the buyer before proceeding with the resale.
Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 13
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What right does the unpaid seller have in claiming damages for losses incurred on resale due to a breach of contract?
Detailed Solution for Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 13
The unpaid seller has the right to claim damages for losses incurred on resale due to a breach of contract. This legal provision ensures that the seller can recover financial losses resulting from the buyer's failure to fulfill their contractual obligations. It allows the seller to seek compensation for any harm suffered as a direct consequence of the breach.
Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 14
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What action is required if the seller intends to resell non-perishable goods?
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When the seller intends to resell non-perishable goods, it is necessary to provide notice to the buyer before proceeding with the resale. This notification requirement ensures transparency in the transaction and gives the buyer an opportunity to be informed about the seller's intention to resell the goods.
Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 15
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When can an unpaid seller withhold delivery of goods even if the property has not been transferred?
Detailed Solution for Test: Rights of an Unpaid Seller under Sale of Goods Act - Question 15
An unpaid seller can withhold delivery of goods even if the property has not been transferred if the seller decides to retain ownership. This right allows the seller to maintain control over the goods until certain conditions are met, ensuring that they can protect their interests and enforce contractual terms effectively.
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