A bailee has the power of sale over goods in his possession or under his control where1:
(1) the bailor is in breach of an obligation to take delivery of them or, if the terms of the bailment so provide, to give directions for their delivery2;
(2) the bailee could impose such an obligation3 by giving notice to the bailor but is unable to trace or communicate with him4; or
(3) the bailee can reasonably expect to be relieved of any duty to safeguard the goods on giving notice to the bailor, but is unable to trace or communicate
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