Auction Sale- In an auction sale, the auctioneer invites bids from prospective buyers and the sale is made to the person who makes the highest bid. The auctioneer may be the seller himself or his authorized agent. Prior to actual auction, wide publicity is given and intending buyers are informed of the time and place of auction. It may be noted that the notice of auction is merely an invitation to the public to make offers. It is not an offer to sell. -LEGAL RULES REGARDING AUCTION SALES (SEC. 64)
ENVIRONMENTAL POLLUTION AND HUMAN RIGHTS VIOLATION
Transfer of Title
Property is the ‘right of ownership’. Title is the source of right. A right is vested in a person who holds a valid title. Generally, the title must have been obtained from the owner himself. But there could be cases when the title is acquired from non-owners. The related question that arises in such cases is whether or not the buyer has obtained a good title. The law protects the true owner by providing that he alone can provide a good title
Berne Convention for the Protection of Literary an
Transfer of Property
The time at which property passes from seller to buyer is important due to the following reasons: (i) Risk prima facie passes with ownership: Unless otherwise agreed, risk follows ownership irrespective of delivery and payment of price. If delay in delivery has been due to the fault of a particular party, the party at default shall bear the risk. (ii) Action against third parties: In case goods are damaged by a third party, it is only the owner who can take action against him. Proprietary rights depend on transfer of property. (iii) Right of Resale: To determine whether buyer can resell the goods to a third party without incurring any liability is linked with transfer of ownership. (iv) Suit for price: Transfer of property confers upon the seller the right to sue the buyer for price. (v) Right of official Receiver: The right of official receiver or assignee to take over the goods in the event of insolvency of either the buyer or the seller depends on as to who is the owner at a given point of time.
Rights of Unpaid Seller
Meaning of Unpaid Seller Section 45 defines an unpaid seller as follows: The seller of goods is deemed to be an unpaid seller: (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. Sub-section (2) of Section 45 has extended the definition of seller to include any person who is in the position of a seller such as an agent of the seller to whom a bill of lading has been endorsed, or a consignor who has himself paid the price.