Unpaid seller status applies where price is unpaid or conditional payment is dishonoured, preserving seller rights against goods.

The statute deems a seller an unpaid seller where the whole price remains unpaid or where a negotiable instrument accepted as conditional payment is dishonoured or the condition otherwise fails; it further treats agents, endorses of bills of lading, consignors, or those directly responsible for the price as sellers for purposes of the unpaid seller's rights against the goods.

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