Under the Sale of Goods Act, 1930, where transfer is by way of pledge, unpaid seller may require:
Section 53(2) lets the unpaid seller require the pledgee to have the amount secured by the pledge satisfied "in the first instance, as far as possible, out of any other…
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Under the Sale of Goods Act, 1930, where transfer is by way of pledge, unpaid seller may require:
Answer and explanation
Correct answer C
Section 53(2) lets the unpaid seller require the pledgee to have the amount secured by the pledge satisfied "in the first instance, as far as possible, out of any other goods or securities of the buyer" in his hands. The seller cannot cancel the pledge or insist on the return of the goods or payment of the price by the pledgee, since a good-faith pledgee for value takes priority under s.53(1).
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