4.1 The property of any goods supplied by Woodland shall not pass to the buyer until Woodland has received payment in full; (a) for the goods supplied (b) for all other goods the subject of any other contract between the seller and the buyer which at the time of payment of the full price of the goods supplied, have been delivered to the buyer, but not paid for in full.
4.2 Any goods supplied or to be supplied to the buyer shall nevertheless be at the buyer’s risk from the time that Woodland notifies the buyer that the goods are available for collection or from the time of delivery, whichever is earlier.
4.3 In the event that the buyer is in default of any payment to Woodland or announces that it is ceasing to trade, suspends payments and/or notifies any of its creditors that it unable to meet debts or that it is about to suspend payments of its debt or enters into a composition or arrangement with or makes any assignment for the benefit of its creditors or a receiver is appointed of the buyers property or assets or any other part thereof or that a court order is made or a resolution passed for the winding up of the customer (being a limited company) except for the purposes of reconstruction or amalgamation or that the buyer commits any act of bankruptcy, Woodland consents to the buyer’s possession of Woodland’s goods shall cease, and Woodland shall be entitled forthwith to enter the buyer’s premises and to repossess its goods.
4.4 In the event that before the property in the goods has passed to it, the buyer resells the same, such resale shall be treated as a sale by the buyer as Agent for Woodland and the buyer shall be liable to account to Woodland for the proceeds of all such sales. Upon paying all his indebtedness to Woodland, the buyer shall be entitled to retain the balance (if any) of such proceeds as its agreed commission of the sale. The proceeds of sale of such goods by the buyer when acting as agent for Woodland shall be placed by the buyer in a separate bank account for the benefit of Woodland.
4.5 Without prejudice to the buyer’s continuing obligation to pay Woodland for any goods he has resold prior to making such a payment, the buyer, if he does not receive the proceeds of such resale will, if so requested by Woodland, transfer the rights of recovery he may have against the purchaser. Woodland undertakes to account to the buyer any sums received from the sub-purchase in excess of amounts due by the buyer to Woodland.