Page:United States Statutes at Large Volume 50 Part 1.djvu/67

 42 When lien is lost. Stoppage in transit. Seller may sto p goods on buyer's in- solvency. When goods are in transit. When no longer in tra nsit. Del ivery to c har- tered ship. Part delivery. Ways of exercising right to stop. 75 TH CONGRESS, 1ST SESSION-CH. 43-MARCH 17, 1937 circumstances as to show an intent to waive the lien or right of retention. SEC. 56. WHEN LIEN IS LOST.-(1) The unpaid seller of goods loses his lien the reon- (a) When he delivers the goods to a carrier or other bailee for the purpose of transmission to the buyer without reserving the property in the goods or the right to the possession thereof (b) When the buyer or his agent lawfully obtains possession of the oods ; and {c By waiver thereof. (2) The unpaid seller of goods, having a lien thereon, does not lose his lien by reason only that he has obtained judgment or decree for the price of the goods. STOPPAGE IN TRANSIT SEC. 57. SELLER MAY STOP GOODS ON BU YE R'S INSOLVENCY .-Subject to the provisions of this Act, when the buyer of goods is or becomes insolvent, the unpaid seller who has parted with the possession of the goods has the right of stopping them in transitu ; that is to say, he may resume possession of the goods at any time while they are in transit, and he will then become entitled to the same rights in regard to the goods as he would have had if he had never parted with the pos session. SEC. 58. WHEN GOODS ARE IN TRANSIT .-(1) Goods are in transit within the meaning of section 57- (a) From the time when they are delivered to a carrier by land or water, or other bailee for the purpose of transmission to the buyer, until th e buyer, or his ag ent in th at behalf, takes d elivery o f them from such carrier or other bailee ; and (b) If the goods are rejected by the buyer, and the carrier or other bailee continues in possession of them, even if the seller has refused to receive them back. (2) Goods are no longer in transit within the meaning of section 57- (a) If the buyer, or his agent in that behalf, obtains delivery of the goods before their arrival at the appointed destination (b) If, after the arrival of the goods at the appointed desti- nation, the carrier or other bailee acknowledges to the buyer or his agent that he holds the goods on his behalf and continues in possession of them as bailee for the buyer or his agent ; and it is immaterial that a further destination for the goods may have been indicated by the buyer ; and (c) If the carrier or other bailee wrongfully refuses to deliver the goods to the buyer or his agent in that behalf. (3) If goods are delivered to a ship chartered by the buyer, it is a ques tion d ependi ng on the ci rcumst ances o f the partic ular c ase, whether they are in the possession of the master as a carrier or as agent of the buyer. (4) If part delivery of the goods has been made to the buyer, or his agent in that behalf, the remainder of the goods may be stopped in transitu, unless such part delivery has been made under such circumstances as to show an agreement with the buyer to give up possession of the whole of the goods. SEC. 59. WAYS OF E XERCI SING THE R IGHT TO STOP .--(1) The unpaid seller may exercise his right of stoppage in transitu either by obtain- ing actual possession of the goods or by giving notice of his claim to th e carrier or other bailee i n whose possessio n the goo ds are. Suc h notice may be given either to the person in actual possession of the