- 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 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.
Big dictionary of business and management. 2014.
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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
stoppage in transitu — UK US noun [U] LAW, COMMERCE ► STOPPAGE IN TRANSIT(Cf. ↑stoppage in transit) … Financial and business terms
stoppage in transitu — A right which a seller of goods on credit has to recall them or retake them while they are in the possession of a carrier or other middleman who received them for delivery to the buyer, on the discovery of the insolvency of the buyer. 46 Am J1st… … Ballentine's law dictionary
stoppage in transitu — the right of a seller of goods to stop them while on their way to the buyer and resume possession of them (as on discovery of the buyer s insolvency) … Useful english dictionary
Right of stoppage in transĭtu — (engl., spr. rait ŏw stóppĕdsch), s. Droit de suite … Meyers Großes Konversations-Lexikon
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 … Financial and business terms
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
in transitu — In transit. A phrase familiar in the law of sales, meaning the period while the goods are in the possession of a carrier, whether by land, water, or air, until they are delivered into the possession of the consignee, whether or not the carrier… … Ballentine's law dictionary
seizing in transitu — See stoppage in transitu … Ballentine's law dictionary
droit de suit — A person s right to pursue the property of his debtor in the hands of a third party; stoppage in transitu. See stoppage in transitu … Ballentine's law dictionary