A Treatise On The Effect Of The Contract Of Sale PDF Download

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1845. Excerpt: ... 308 CHAPTER V. OF THE EXTENT OF THE VENDOR'S RIGHTS WHILST IN POSSESSION. The last subject of discussion, viz., the extent of the unpaid vendor's rights whilst he is in possession of the goods, is one on which the law is more unsettled than any person not practically acquainted with the subject could anticipate. The vendor has a right in the goods whilst he retains possession, and the right comes into operation when the purchaser is solvent, but in default. It also exists when the purchaser is insolvent, whether the purchaser be in default or not, and it exists when the vendor has resumed possession by a stoppage in transitu. The position of the unpaid vendor in the three cases is not precisely the same, and though it is probable that his rights in each are of a similar nature, it is not to be assumed that they are the same, so that it must not be taken for granted that a decision as to the vendor's right in one of the three cases is an authority equally applicable to the vendor's rights in the other two. The decided cases seem to establish, that in all three positions the right exceeds a mere lien, that is to say, it interferes not only with the purchaser's right of possession, but also with his right of property. And it seems also the better opinion that the vendor's right does not in any one of the cases amount to a right to resume a complete right of property, so as to devest totally the purchaser's right of property, or in other words, that the vendor cannot treat the contract of sale as rescinded, so as to resume his property as if the sale had never been made. But this point has never been solemnly decided in cases of insolvency, and in the last cases in which it arose the Judges were inclined to differ in opinion. The precise extent of the vendor'...