45Definition of unpaid seller

45 Definition of unpaid seller (1) The seller of goods is deemed to be an ***unpaid seller*** within the meaning of this Part— (a) when the whole of the price has not been paid or tendered; (b) when a bill of exchange or other negotiable instrument has been received as conditional payment, and the condition on which it was received has not been fulfilled by reason of the dishonour of the instrument or otherwise. (2) In this Division the term ***seller*** includes any person who is in the position of a seller, as for instance an agent of the seller to whom the bill of lading has been indorsed or a consignor or agent who has himself paid or is directly responsible for the price. No. 3694 s. 44.