Sale of goods act

Pledge is a bailment where by as asset owned by debtor or lendee is given as security to creditor / lendor to secure repayment for some obligation to pay or debt. Disposition means transfer. So after sale if the seller is still with possession of goods / documents, the transfer again by such seller of the same goods under sale or pledge or any other way will be valid for the next buyer provided the buyer enters into the transaction in good faith and was not aware that such goods have already been sold and the seller is just having possession. Pawnee is the person to whom the goods/ assets are handed as security for the payment of a debt . So if the pawnee gets goods legally under pledge, and when he sells the buyer will get good title though he is the owner.

Sudha Reddy

CA Final

★ 20K+

20-Oct-21 11:02

The third person who entered into transaction of sale under estoppel should prove that he suffered damages due to such transaction and he had believed that the person selling was the owner

Sudha Reddy

CA Final

★ 20K+

20-Oct-21 11:03