120. Stoppage in transit.

(v)     Stoppage in Transit

120.     Stoppage in transit.

If an agent has bought goods on behalf of his principal, either with his own money1, or under such circumstances as to incur a personal liability towards the seller for the price2, he stands towards his principal in the position of an unpaid seller3, and on delivery to a carrier for transmission to the principal, possesses the same rights of stoppage in transit4.