Commercial Law (105)
HELD:
"The third cognate transaction is the conditional credit sale, which is distinguishable from a hire-purchase transaction because of the absence of option to purchase by the buyer or to resile from the sale by the seller.
HELD:
"In the credit sale transaction, there is a sale on credit.
HELD:
"That issue falls into proper perspective when the general nature of a lien is appreciated.
HELD:
"By Section 38(1) of the Act, the seller of goods is deemed to be an "unpaid seller" within the meaning of the Act when:
HELD:
"Section 48(2) & (3), confers on the unpaid seller the right to sell goods in his possession in exercise of his lien over the same in order to satisfy his debt or part thereof.
HELD:
"The object of sale of goods is generally to transfer its ownership to the purchaser from the seller.
HELD:
"The law is that the one on whose behalf an act is to be done is called the principal; and the one who is to act is called the agent.
HELD:
"Usually, the relationship of Principal and agent may arise in anyone of five ways, namely: -