Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
6 Cards in this Set
- Front
- Back
|
2121. * If a person purchases a commodity by way of advance payment
... a) till the expiry of the stipulated period of delivery, to sell it to anyone except the seller... --- b) after expiry, --- c) to sell cereals like wheat and barley, and other commodities which are sold by weighing or measuring other than fruits, unless they are in possession, except that the buyer wishes to sell them at cost or lower price. |
a) he is not entitled
b) there is no harm in selling it to any person after the expiry of the stipulated period, even if he may not have taken possession of it yet. c) it is not permissible |
|
|
2122. * In advance payment purchase transaction, when the seller delivers at the stipulated time the commodity which he had sold, the buyer __________
if the seller gives something better in quality than the one agreed upon, and if it is reckoned to belong to the same type, the buyer _________ |
a) should accept it.
a) should accept it. |
|
|
2123. If the commodity which the seller delivers is of inferior quality to that which was agreed upon, __________
|
the buyer can reject it.
|
|
|
2124. If the seller delivers a commodity different from the one he had sold to the buyer, and the buyer agrees to accept it,_________
|
there will be no objection to it.
|
|
|
2125. * If a commodity which was sold by advance payment becomes scarce at the time when it should be delivered, and the seller cannot supply it, the buyer may _____
(3 total answers) |
1) the buyer may wait till the seller procures it,
2) or even cancel the transaction, and take the refund, 3) but as a precaution, he cannot sell it back to the seller at a profit. |
|
|
2126. * If a person sells a commodity promising to deliver it after some time, and also agrees to take deferred payment for it, the transaction is
|
VOID
|
