Hi..

Definition of unpaid seller

(1) The seller of goods is deemed to be an "unpaid seller" within the meaning of
this Part-

(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 not been fulfilled by reason of the dishonour of the
instrument or otherwise.

(2) In this Division the term seller includes any person who is in the
position of a seller, as for instance an agent of the seller to whom the bill
of lading has been indorsed or a consignor or agent who has himself paid or is
directly responsible for the price.

Regards
Deep S

Answered by Deep , an ibibo Master, at 11:06 PM on January 14, 2009