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  • The term ‘unpaid seller’ means a seller who is not paid for the goods sold
  • ‘Lien’ is a right to retain possession of the goods belonging to another person
  • Right of lien is lost as soon as the possession of the goods is lost
  • Right of stoppage in transit is a right to regain the possession of the goods
  • Right of stoppage in transit comes to an end as soon as the goods are delivered to the buyer
  • The unpaid seller may resell the goods even without a notice to the buyer when the goods are of perishable nature or the seller reserves the right to resell
  • The interest can be recovered by the seller only when he is entitled to recover the price
  • The relationship between the owner and the auctioneer is that of the principal and agent and is governed by general principles of the Law of Agency
  • Any rule which does not permit a bidder to withdraw his bid before it is accepted is invalid
  • Reserve price is the lowest price below which the auctioneer will not sell the goods at an auction

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