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Which are not the conditions fulfilled before a seller is deemed to be an unpaid seller?
- a)He must be unpaid either wholly or partly
- b)He must have not refused payment when tendered
- c)He must have sold goods against cash or in exchange of other thing
- d)He must have an immediate right of action for the price
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Which are not the conditions fulfilled before a seller is deemed to be...
When buyer does not pay the price of the goods, the seller is deemed to be unpaid. The seller of goods is deemed to be an unpaid seller
within the meaning of this act:
When the whole of the price has not been/paid or tendered or When a bill of exchange or other negotiable instrument has been received as conditional payment, and the condition on which it was received has not been fulfilled by reason of the dishonor of the instrument or otherwise.
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Which are not the conditions fulfilled before a seller is deemed to be...
Conditions for an Unpaid Seller
An unpaid seller refers to a seller who has not received the payment for the goods sold. In order to be deemed as an unpaid seller, certain conditions must be fulfilled. Let's discuss these conditions in detail:
a) Unpaid either wholly or partly:
- The seller must not have received the full payment for the goods sold.
- Even if the seller has received partial payment, he can still be considered an unpaid seller as long as the remaining amount is unpaid.
b) Not refused payment when tendered:
- The seller should not have refused to accept the payment when it was offered by the buyer.
- If the seller rejects the payment for any reason, he cannot be considered an unpaid seller.
c) Sold goods against cash or in exchange of other thing:
- This condition is not required to be fulfilled for a seller to be deemed as an unpaid seller.
- The mode of payment or exchange does not affect the seller's status as an unpaid seller.
d) Immediate right of action for the price:
- The seller must have an immediate right to sue the buyer for the payment of the price.
- If the seller does not have the legal right to take action against the buyer for the payment, he cannot be considered an unpaid seller.
Conclusion:
In conclusion, the correct answer is option 'C' - "He must have sold goods against cash or in exchange of other thing." This is because the condition mentioned in option 'c' is not necessary for a seller to be deemed as an unpaid seller. The other conditions, such as being unpaid either wholly or partly, not refusing payment when tendered, and having an immediate right of action for the price, are essential to establish the status of an unpaid seller.
An unpaid seller refers to a seller who has not received the payment for the goods sold. In order to be deemed as an unpaid seller, certain conditions must be fulfilled. Let's discuss these conditions in detail:
a) Unpaid either wholly or partly:
- The seller must not have received the full payment for the goods sold.
- Even if the seller has received partial payment, he can still be considered an unpaid seller as long as the remaining amount is unpaid.
b) Not refused payment when tendered:
- The seller should not have refused to accept the payment when it was offered by the buyer.
- If the seller rejects the payment for any reason, he cannot be considered an unpaid seller.
c) Sold goods against cash or in exchange of other thing:
- This condition is not required to be fulfilled for a seller to be deemed as an unpaid seller.
- The mode of payment or exchange does not affect the seller's status as an unpaid seller.
d) Immediate right of action for the price:
- The seller must have an immediate right to sue the buyer for the payment of the price.
- If the seller does not have the legal right to take action against the buyer for the payment, he cannot be considered an unpaid seller.
Conclusion:
In conclusion, the correct answer is option 'C' - "He must have sold goods against cash or in exchange of other thing." This is because the condition mentioned in option 'c' is not necessary for a seller to be deemed as an unpaid seller. The other conditions, such as being unpaid either wholly or partly, not refusing payment when tendered, and having an immediate right of action for the price, are essential to establish the status of an unpaid seller.
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Which are not the conditions fulfilled before a seller is deemed to be an unpaid seller?a)He must be unpaid either wholly or partlyb)He must have not refused payment when tenderedc)He must have sold goods against cash or in exchange of other thingd)He must have an immediate right of action for the priceCorrect answer is option 'C'. Can you explain this answer?
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Which are not the conditions fulfilled before a seller is deemed to be an unpaid seller?a)He must be unpaid either wholly or partlyb)He must have not refused payment when tenderedc)He must have sold goods against cash or in exchange of other thingd)He must have an immediate right of action for the priceCorrect answer is option 'C'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Which are not the conditions fulfilled before a seller is deemed to be an unpaid seller?a)He must be unpaid either wholly or partlyb)He must have not refused payment when tenderedc)He must have sold goods against cash or in exchange of other thingd)He must have an immediate right of action for the priceCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which are not the conditions fulfilled before a seller is deemed to be an unpaid seller?a)He must be unpaid either wholly or partlyb)He must have not refused payment when tenderedc)He must have sold goods against cash or in exchange of other thingd)He must have an immediate right of action for the priceCorrect answer is option 'C'. Can you explain this answer?.
Which are not the conditions fulfilled before a seller is deemed to be an unpaid seller?a)He must be unpaid either wholly or partlyb)He must have not refused payment when tenderedc)He must have sold goods against cash or in exchange of other thingd)He must have an immediate right of action for the priceCorrect answer is option 'C'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Which are not the conditions fulfilled before a seller is deemed to be an unpaid seller?a)He must be unpaid either wholly or partlyb)He must have not refused payment when tenderedc)He must have sold goods against cash or in exchange of other thingd)He must have an immediate right of action for the priceCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which are not the conditions fulfilled before a seller is deemed to be an unpaid seller?a)He must be unpaid either wholly or partlyb)He must have not refused payment when tenderedc)He must have sold goods against cash or in exchange of other thingd)He must have an immediate right of action for the priceCorrect answer is option 'C'. Can you explain this answer?.
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