Stoppage in transitu

Stoppage in transitu,

Definition of Stoppage in transitu:

  1. Right of the unpaid seller to stop the delivery (and regain possession) of goods in transit to the buyer who has been declared bankrupt or insolvent. If this right is not exercised in time, the goods on delivery become part of the estate of the buyer and may be sold to pay off the secured creditors.

Meaning of Stoppage in transitu & Stoppage in transitu Definition