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When the goods are sold on credit and credit period is not expired, the seller of goods is:
- a)Called unpaid seller
- b)Is not the seller at all
- c)Not called an unpaid seller
- d)None of the above
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
When the goods are sold on credit and credit period is not expired, th...
Unpaid Seller and Credit Sales
Unpaid seller is a term used to describe a seller who has not received payment for the goods sold to the buyer. However, when goods are sold on credit and the credit period has not expired, the seller of the goods is not called an unpaid seller.
Explanation
When goods are sold on credit, the seller agrees to give the buyer a certain period of time to pay for the goods. During this period, the seller is not considered an unpaid seller because the payment is not yet due. The seller has simply extended credit to the buyer.
Once the credit period has expired and the buyer has not paid for the goods, the seller becomes an unpaid seller. At this point, the seller may exercise certain rights such as retaining possession of the goods or reselling them to recover the unpaid amount.
Conclusion
In conclusion, the seller of goods sold on credit and credit period not expired is not called an unpaid seller. The seller becomes an unpaid seller only when the credit period has expired and the buyer has not paid for the goods.
Unpaid seller is a term used to describe a seller who has not received payment for the goods sold to the buyer. However, when goods are sold on credit and the credit period has not expired, the seller of the goods is not called an unpaid seller.
Explanation
When goods are sold on credit, the seller agrees to give the buyer a certain period of time to pay for the goods. During this period, the seller is not considered an unpaid seller because the payment is not yet due. The seller has simply extended credit to the buyer.
Once the credit period has expired and the buyer has not paid for the goods, the seller becomes an unpaid seller. At this point, the seller may exercise certain rights such as retaining possession of the goods or reselling them to recover the unpaid amount.
Conclusion
In conclusion, the seller of goods sold on credit and credit period not expired is not called an unpaid seller. The seller becomes an unpaid seller only when the credit period has expired and the buyer has not paid for the goods.
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When the goods are sold on credit and credit period is not expired, th...
The seller is not as unpaid seller because the duedate is not completed
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When the goods are sold on credit and credit period is not expired, the seller of goods is:a)Called unpaid sellerb)Is not the seller at allc)Not called an unpaid sellerd)None of the aboveCorrect answer is option 'C'. Can you explain this answer?
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