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Judiciary Exams Exam  >  Judiciary Exams Tests  >  Test: Rights of Unpaid Seller - Judiciary Exams MCQ

Test: Rights of Unpaid Seller - Judiciary Exams MCQ


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20 Questions MCQ Test - Test: Rights of Unpaid Seller

Test: Rights of Unpaid Seller for Judiciary Exams 2024 is part of Judiciary Exams preparation. The Test: Rights of Unpaid Seller questions and answers have been prepared according to the Judiciary Exams exam syllabus.The Test: Rights of Unpaid Seller MCQs are made for Judiciary Exams 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Rights of Unpaid Seller below.
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Test: Rights of Unpaid Seller - Question 1
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What does the Sales of Goods Act, 1930 in India define as an unpaid seller?

Detailed Solution for Test: Rights of Unpaid Seller - Question 1
According to the Sales of Goods Act, 1930 in India, an unpaid seller is defined as a seller who hasn't received full payment for the goods they've sold. This legal definition is crucial in commercial transactions and helps protect the interests of sellers when buyers default on payment.
Test: Rights of Unpaid Seller - Question 2
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What rights does the law grant to unpaid sellers in the Sales of Goods Act, 1930 in India?

Detailed Solution for Test: Rights of Unpaid Seller - Question 2
The Sales of Goods Act, 1930 in India grants various rights to unpaid sellers to safeguard their interests and aid in the recovery of their dues. These rights empower sellers to take necessary actions to recover payments owed and protect their commercial interests within the legal framework.
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Test: Rights of Unpaid Seller - Question 3
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Why are the rights of unpaid sellers significant in commercial transactions under the Sales of Goods Act, 1930 in India?

Detailed Solution for Test: Rights of Unpaid Seller - Question 3
The rights granted to unpaid sellers under the Sales of Goods Act, 1930 in India are significant as they ensure fair treatment and protection for sellers in commercial transactions. By providing legal avenues to recover dues and safeguard interests, these rights uphold the balance and integrity of business dealings, fostering trust and reliability in the marketplace.
Test: Rights of Unpaid Seller - Question 4
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What action can an unpaid seller take if the buyer fails to pay or collect the goods within a reasonable time frame, as per the Sales of Goods Act, 1930?
Detailed Solution for Test: Rights of Unpaid Seller - Question 4
The correct answer is Option C: Resell the goods and claim damages from the original buyer. In situations where the buyer fails to pay or collect the goods within a reasonable time frame, the seller has the right to resell the goods to another party and claim damages from the original buyer for any losses incurred. This right provides a legal recourse for the seller to recover losses caused by the buyer's failure to fulfill their payment or collection obligations.
Test: Rights of Unpaid Seller - Question 5
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What is the primary right of an unpaid seller as per the Sales of Goods Act, 1930, that allows them to withhold possession of goods until the buyer fulfills the payment obligation?
Detailed Solution for Test: Rights of Unpaid Seller - Question 5
The correct answer is Option C: Right to Lien. This right enables an unpaid seller to retain possession of the goods until the buyer fulfills the payment obligation. For example, if a buyer fails to pay the full price for a product, the seller can hold onto the goods until the payment is made. This right acts as a form of security for the seller in cases of non-payment by the buyer.
Test: Rights of Unpaid Seller - Question 6
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In what situation can an unpaid seller exercise the right of Stoppage in Transit according to the Sales of Goods Act, 1930?
Detailed Solution for Test: Rights of Unpaid Seller - Question 6
The correct answer is Option C: When the buyer fails to collect the goods within a specified time frame. The right of Stoppage in Transit allows the seller to stop the delivery of goods that are in transit if they discover that the buyer has not paid for the goods. This right enables the seller to retain possession of the goods and prevent their delivery until the payment is made or other arrangements are agreed upon.
Test: Rights of Unpaid Seller - Question 7
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What action can an unpaid seller take if the buyer fails to pay for the goods purchased within the specified time frame?
Detailed Solution for Test: Rights of Unpaid Seller - Question 7
An unpaid seller can retain possession of the goods until the buyer fulfills the payment obligation. This right is known as the right to lien, which allows the seller to keep the goods until the payment is received from the buyer. This practice ensures that sellers are protected in situations where buyers default on their payment obligations.
Test: Rights of Unpaid Seller - Question 8
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What legal framework primarily governs the rights of unpaid sellers in India?
Detailed Solution for Test: Rights of Unpaid Seller - Question 8
In India, the rights of unpaid sellers are primarily regulated by the Sales of Goods Act, 1930. This comprehensive legislation outlines the rights and responsibilities of buyers and sellers concerning the sale of goods. It covers various aspects of goods sale transactions and specifically addresses the rights of unpaid sellers, ensuring legal protection and guidelines for such transactions.
Test: Rights of Unpaid Seller - Question 9
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Which aspect is specifically addressed in the Sales of Goods Act, 1930 concerning goods sale transactions?
Detailed Solution for Test: Rights of Unpaid Seller - Question 9
The Sales of Goods Act, 1930 includes detailed provisions covering various aspects of goods sale transactions, such as contract formation, conditions and warranties, property transfer, contract performance, and remedies for breaches. Property transfer and ownership are crucial elements addressed in the Act to ensure clarity and legal protection in goods sale transactions.
Test: Rights of Unpaid Seller - Question 10
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What is the right that allows a seller to withhold goods until full payment is received?
Detailed Solution for Test: Rights of Unpaid Seller - Question 10
The correct answer is Option C: Right of Lien. This right enables a seller to retain possession of goods until the full payment is made by the buyer. It serves as a form of security for the seller in transactions where goods are sold on credit or under other payment agreements. This right ensures that the seller is protected in case the buyer fails to fulfill their payment obligations.
Test: Rights of Unpaid Seller - Question 11
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In what situation can sellers legally sue buyers for non-payment even if the property transfer hasn't occurred yet?
Detailed Solution for Test: Rights of Unpaid Seller - Question 11
The correct answer is Option C: When the buyer fails to pay within a reasonable time. Sellers have the right to sue buyers for non-payment if the buyer delays payment beyond a reasonable timeframe. This right allows sellers to take legal action to recover the owed amount, even if the transfer of property has not yet taken place.
Test: Rights of Unpaid Seller - Question 12
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What right allows sellers to cancel the contract, claim damages, and retain advance payments in cases of buyer insolvency before delivery?
Detailed Solution for Test: Rights of Unpaid Seller - Question 12
The correct answer is Option D: Right to Rescind the Contract. This right empowers sellers to cancel the contract, seek damages for losses incurred, and retain any advance payments made by the buyer in situations where the buyer becomes insolvent before the delivery of goods. It provides sellers with a legal remedy to protect their interests in such circumstances.
Test: Rights of Unpaid Seller - Question 13
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When can sellers halt goods in transit upon buyer insolvency to ensure the recovery of their dues in a sales transaction?
Detailed Solution for Test: Rights of Unpaid Seller - Question 13
Sellers can halt goods in transit upon buyer insolvency to secure the recovery of their dues. This legal action allows sellers to retain control over the goods and prevent their delivery in situations where the buyer is unable to fulfill their financial obligations.
Test: Rights of Unpaid Seller - Question 14
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Under which provision of the Sales of Goods Act, 1930, are sellers legally empowered to pursue buyers for payment following non-compliance in a sales agreement?
Detailed Solution for Test: Rights of Unpaid Seller - Question 14
Section 55 of the Sales of Goods Act, 1930, grants sellers the legal right to pursue buyers for payment in cases of non-compliance with the terms of a sales agreement. This provision outlines the recourse available to sellers in situations where buyers fail to fulfill their payment obligations as agreed upon.
Test: Rights of Unpaid Seller - Question 15
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What is the right that allows the unpaid seller to keep possession of the goods until payment is received?
Detailed Solution for Test: Rights of Unpaid Seller - Question 15
The correct answer is Option B: Right of Lien. The right of lien permits the unpaid seller to retain possession of the goods until the buyer fulfills the payment obligation. This right acts as a form of security for the seller in case the buyer defaults on payment. It allows the seller to withhold delivery until the outstanding amount is settled.
Test: Rights of Unpaid Seller - Question 16
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In what situation can the seller stop the goods while they are in transit to the buyer?
Detailed Solution for Test: Rights of Unpaid Seller - Question 16
The correct answer is Option C: If the buyer becomes insolvent. When the buyer faces insolvency, the seller has the right to stop the goods while they are in transit to prevent further loss. This provision safeguards the seller's interests in situations where the buyer's financial stability is in question.
Test: Rights of Unpaid Seller - Question 17
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What right allows the seller to cancel the contract in cases of serious breach by the buyer?
Detailed Solution for Test: Rights of Unpaid Seller - Question 17
The correct answer is Option D: Right to Rescind the Contract. In cases of a significant breach by the buyer, the unpaid seller has the right to cancel or rescind the contract. This right enables the seller to terminate the agreement if the buyer fails to fulfill their obligations in a substantial manner, such as by refusing to accept the goods or not making timely payments.
Test: Rights of Unpaid Seller - Question 18
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What right allows the unpaid seller to retain possession of the goods until payment is received?
Detailed Solution for Test: Rights of Unpaid Seller - Question 18
The correct answer is Option C: Right of Lien. This right enables the unpaid seller to withhold delivery of goods until payment is received. It serves as a form of security for the seller in cases where the buyer fails to fulfill their payment obligations. By retaining possession of the goods, the seller ensures that they are compensated for the products or services provided.
Test: Rights of Unpaid Seller - Question 19
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In what situation can the seller stop the goods while they are in transit to the buyer?
Detailed Solution for Test: Rights of Unpaid Seller - Question 19
The correct answer is Option C: Stoppage in Transit. This right allows the seller to halt the delivery of goods while they are in transit to the buyer, typically triggered by the buyer's insolvency or bankruptcy. By exercising this right, the seller can prevent the goods from reaching the buyer and potentially mitigate losses resulting from the buyer's financial difficulties.
Test: Rights of Unpaid Seller - Question 20
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What action can the unpaid seller take if the buyer defaults on payment for received goods?
Detailed Solution for Test: Rights of Unpaid Seller - Question 20
The correct answer is Option B: Resale of Goods. In the event of a buyer's default in payment, the seller has the right to resell the goods to recover the outstanding amount owed. This action allows the seller to mitigate their financial losses by selling the goods to another party and recouping the value of the unpaid products.
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