49: Termination of lien Stoppage in Transit

(1) The unpaid seller of goods loses his lien thereon― (a) when he delivers the goods to a carrier or other bailee for the purpose of transmission to the buyer without reserving the right of disposal of the goods ; (b) when the buyer or his agent lawfully obtains possession of the goods ; (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 a decree for the price of the goods. Stoppage in Transit

Effective date: 1930-07-01

Related sections