stoppage in transit

stoppage in transit
stoppage in transit ˌstoppage in ˈtransit also ˌstoppage in ˈtransitu noun [uncountable]
LAW COMMERCE the right of a seller to stop the delivery of goods while they are on their way to the buyer if the seller learns that the buyer has gone bankrupt and so cannot pay for them

* * *

stoppage in transit UK US noun [U] (also stoppage in transitu) LAW, COMMERCE
the legal right of a seller of goods to stop the sale at any time before the buyer receives them, especially in situations where it becomes clear that the buyer cannot pay for the goods: »

He may still be able to recover the goods by exercising his right of stoppage in transit.

Financial and business terms. 2012.

Игры ⚽ Нужно сделать НИР?

Look at other dictionaries:

  • stoppage in transit — stopping goods in the course of their delivery at a distance. When the buyer of goods becomes insolvent, an unpaid seller who has parted with the possession of the goods has the right of stopping them in transit, that is to say, he may resume… …   Law dictionary

  • stoppage in transit — /stopsj in traenzit/ The act by which the unpaid vendor of goods stops their progress and resumes possession of them, while they are in course of transit from him to the purchaser, and not yet actually delivered to the latter. The right of… …   Black's law dictionary

  • stoppage in transit — /ˌstɒpɪdʒ ɪn trænzɪt/ noun the legal right of sellers to stop delivery of goods that are in transit if they have reason to believe customers will not pay for them owing to insolvency …   Marketing dictionary in english

  • stoppage in transitu — UK US noun [U] LAW, COMMERCE ► STOPPAGE IN TRANSIT(Cf. ↑stoppage in transit) …   Financial and business terms

  • stoppage in transitu — stop·page in tran·si·tu / stä pij ˌin tran zə ˌtü, tran sə , ˌtyü/ n [Latin in transitu in passing from one place to another]: the right of a seller of goods to stop them on their way to the buyer and resume possession of them (as on discovery of …   Law dictionary

  • transit — The movement of goods from one European Union ( EU) Member State to another without the need to enter them to a customs procedure. HM Customs & Revenue Glossary * * * transit tran‧sit [ˈtrænst, zt] noun [uncountable] 1. TRANSPORT TRAVEL the… …   Financial and business terms

  • transit — A stop over privilege on a continuous journey granted by carrier by which a break de facto in continuity of carriage of goods is disregarded and two legs of a journey are treated as though covered without interruption, uniting both legs into a… …   Black's law dictionary

  • stoppage in transitu — 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… …   Big dictionary of business and management

  • Blue Line (Chicago Transit Authority) —      Blue Line A Blue Line train in the Damen station Overview Type …   Wikipedia

  • 2005 New York City transit strike — A closed entrance to the 45th Street station on the BMT Fourth Avenue Line in Sunset Park, Brooklyn. The 2005 New York City transit strike was a strike in New York City called by the Transport Workers Union Local 100 (TWU). Negotiations for a new …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”