Multiple choice

A person is not called an unpaid seller if

  1. the credit period as per contract is over

  2. a seller has refused to accept payment

  3. cheque received in consideration has been dishonoured

  4. All of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Option (2) is correct: If a seller has refused to accept valid tender of price, then he is not called an unpaid seller. In options (1) and (3), he will be called an unpaid seller.

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