Page:United States Statutes at Large Volume 47 Part 1.djvu/1239

 72d C ONGRESS. SESS. IL GH. 128. FEBR UARY 27, 1933 . 1215 amounts to a rep udiation or brea ch of the entire contract, the se ller shall have the rights against the goods and on the contract herein- after provided in favor of the seller when the buyer is in default. SEC. 645. DEFINITION OF UNPAID SELLER .-1. The seller of goods Unp aid se ller" de • is deemed to be an unpaid seller within the meaning of this chapter . „„' (a When the whole of the price has not been paid or tendered. (b) When a bill of exchange or other negotiable instrument has been received as conditional payment, and the condition on which it was received has been broken by reason of the dishonor of the instru- ment, the insolvency of the buyer, or otherwise . 2. In this part of this chapter the term "seller" includes an agent of the sel ler to w hom the bill of lading ha s been i ndorsed, or a consignor or agent who has himself paid, or is directly respon- sible for, the price, or any other person who is in the position of a seller . SEC. 649 . REMEDIES OF AN UNPAID SELLER .--1 . Subject to the pro- Remedies at. visions of this chapter, notwith standing that the propert y in the goods may have passed to the buyer, the unpaid seller of the goods, as such has (a) A lien on the goods or right to retain them for the price while he is in possession of them ; (b) In case of the insolvency of the buyer, a right of stopping the goods in transitu after he has parted with the possession of them ; c) A right of resale as limited by this chapter ; (d) A right to rescind the sale as limited by this chapter . 2. Where the property in goods has not passed to the buyer, the unpa id selle r has, i n additi on to hi s other r emedies, a right of withholding delivery similar to and coextensive with his rights of lien and stop page i n tra nsitu where the prope rty ha s pas sed to the buyer . SEC. $5O. WH EN RIGH T OF LIEN MAY BE EXERCISED .-1 . Subject When right of hen to the provisions of this chapter the unpaid seller of goods who may be exercisede is in po ssession of them is enti tled to retain po ssession of them until payment or tender of the price in the following cases, namely (a) Where the goods have been sold without any stipulation as to credit ; (b) Where the goods have been sold on credit, but the term of credit has expired ; (c) Where the buyer becomes insolvent. 2. The se ller may e xercis e his righ t of l ien n otwit hstand ing that he is in po ssession of the goods as ageiit o r bailee for the buyer. SEC. 651. LIEN AFTER PART DELIVERY.--Where an unpaid seller lLien ivery ' steer part ae has ma de pa rt de livery of the goods, he may exer cise h is ri ght of lien on the remainder, unless such part delivery has been made under such circumstances as to show an intent to waive the lien or right of retention. SEC. 652. WHEN LIEN Is LOST .-1. The unpaid seller of goods loses Loss of lien. his lien thereon : (a) W hen he delivers the goods to a ca rri er or other bailee for t he pu rpose of tr ansmi ssion to the buyer without reser ving the property in the goods or the right to the possession thereof (b) W hen the buy er or his ag ent lawfully ob tai ns possession of the goods ; (c) y waiver thereof. 2 . The unpaid seller of goods, having a lien thereon, does not lose his lien by reason only that he has otained judgment or decree for the price of the goods.