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When a bookseller sells a book on cash payment then it is called as ______.
  • a)
    Unilateral Contract 
  • b)
    Bilateral Contract
  • c)
    Executed Contract
  • d)
    Executory Contract
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
When a bookseller sells a book on cash payment then it is called as __...
 Executed contract. A contract is said to be executed when both the parties to a contract have completely performed their share of obligation and nothing remains to be done by either party under the contract. For example, when a bookseller sells a book on cash payment it is an executed contract because both the parties have done what they were to do under the contract. 
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When a bookseller sells a book on cash payment then it is called as __...
Executed Contract means acontract that has been fully performed by both parties. In other words, acontract whose terms have been completely fulfilled. Here the bookseller sold his book and at the same time the other party has paid the amount and hence both parties had performed in the contract so option C is correct answer
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Community Answer
When a bookseller sells a book on cash payment then it is called as __...
Yes, Because consideration is done by both the parties (seller as well as the buyer).
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When a bookseller sells a book on cash payment then it is called as ______.a)Unilateral Contractb)Bilateral Contractc)Executed Contractd)Executory ContractCorrect answer is option 'C'. Can you explain this answer?
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