Page:United States Statutes at Large Volume 76A.djvu/236

–140– -140delivery, and also for a reasonable charge for the care and custody of the goods. If the neglect or refusal of the buyer to take delivery amounts to a repudiation or breach of the entire contract, the seller shall have the rights against the goods and on the contract hereinafter provided in favor of the seller when the buyer is in default. Subchapter IV—Rights of Unpaid Seller Article A—Rights of Unpaid Seller Against the Goods § 1491. Definition of unpaid seller (a) The seller of goods is deemed to be an unpaid seller within the meaning of this chapter: (1) when the whole of the price has not been paid or tendered; (2) 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 instrument, the insolvency of the buyer, or otherwise. (b) I n this subchapter the term "seller" includes an agent of the agent who has himself paid, or is directly responsible for, the price, or any other person who is in the position of a seller. § 1492. Remedies of an unpaid seller (a) Subject to the provisions of this chapter, the unpaid seller of the property in the goods may have passed to the buyer, the unpaid seller to whom the bill of lading has been indorsed, or a consignor or seller of the goods, as such, has: (1) a lien on the goods or right to retain them for the price while he is in possession of them; (2) 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; (3) a right of resale as limited by this chapter; (4) a right to rescind the sale as limited by this chapter. (b) Where the property in goods has not passed to the buyer, the unpaid seller has, m addition to his other remedies, a right of withholding delivery similar to and coextensive with his rights of lien and stoppage in transitu where the property has passed to the buyer. Article B—Unpaid Seller's Lien

§ 1493. When right of lien may be exercised (a) Subject to the provisions of this chapter, notwithstanding that goods who is in possession of them is entitled to retain possession of them until payment or tender of the price in the following cases, namely: (1) where the goods have been sold without any stipulation as to credit; (2) where the goods have been sold on credit, but the term of credit has expired; (3) where the buyer becomes insolvent. (b) The seller may exercise his right of lien notwithstanding that he is in possession of the goods as agent or bailee for the buyer. § 1494. Lien after part delivery Where an unpaid seller has made part delivery of the goods, he may exercise his right 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.

�