stoppage in transitu

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A remedy available to an unpaid seller of goods when the buyer has become insolvent and the goods are still in course of transit. If the seller gives notice of stoppage to the carrier or other bailee of the goods, the seller is entitled to have them redelivered and may then retain possession of them until the price is paid. If the right is not exercised, the goods will fall into the insolvent buyer's estate and go towards satisfying the creditors.

Subjects: Law — Business and Management.

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