Which of the Following Is True About the Seller's Right

question 19

Multiple Choice

Which of the following is true about the seller's right to reclaim goods from an insolvent buyer?

• A)This right is superior to the rights of a good faith purchaser for value of the goods.
• B)The seller must make a demand for the goods within ten days of their receipt by the buyer.
• C)The seller must physically repossess the goods within ten days of their receipt by the buyer.
• D)The buyer must have misrepresented his solvency to the seller in writing within three months before delivery of the goods.

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Definitions:

Transactions

The exchange or transfer of goods, services, or funds between two or more parties, recorded in the financial records of the entities involved.

Measurement System

A collection of instruments, standards, and procedures used to quantify physical properties.

Business Activities

All actions undertaken by a company to operate and manage its business, which may include investing, financing, and operating activities.

Communicates

The process of conveying or exchanging information through various means, essential for business operations and relationships.