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Legal Terms - disposal of uncollected goods
The sale of goods by a bailee, who possesses or controls them, occurs when the bailor fails to fulfill a commitment to retrieve them (see to BAILMENT). If the original contract does not mandate the bailor to retrieve the goods, the bailee may impose this requirement by providing notice. The pertinent statutory requirements in the Torts (Interference with Goods) Act 1977 establish conditions regarding the notification of the bailee's plan to sell, thereby affording the bailor a reasonable time to retrieve the goods. The bailee must employ the most effective sales strategy and must remit to the bailor the selling proceeds, deducting any amounts owed prior to notifying the intention to sell. A judge may permit a sale by a bailee.
The sale of goods by a bailee, who possesses or controls them, occurs when the bailor fails to fulfill a commitment to retrieve them (see to BAILMENT). If the original contract does not mandate the bailor to retrieve the goods, the bailee may impose this requirement by providing notice. The pertinent statutory requirements in the Torts (Interference with Goods) Act 1977 establish conditions regarding the notification of the bailee's plan to sell, thereby affording the bailor a reasonable time to retrieve the goods. The bailee must employ the most effective sales strategy and must remit to the bailor the selling proceeds, deducting any amounts owed prior to notifying the intention to sell. A judge may permit a sale by a bailee.
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