Example: State whether the seller is an unpaid seller or not in each of the following...

 

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Example: State whether the seller is an unpaid seller or not in each of the following alternative cases: Case (a) X sold some goods to Y for Rs. 10,000. Y paid Rs.9,900 but failed to pay the balance. Case (b) X sold some goods to Y for Rs. 10,000 and received a cheque for the full price as conditional payment. On presentment, the cheque was dishonoured by the Bank. Case (c) X sold some goods to Y for Rs. 10,000 on a credit of one month. One month has not yet expired. Case (d) X sold some goods to Y for Rs. 10,000 on a credit of one month and one month has expired and the price remains unpaid. Case (e) X sold some goods to Y for Rs. 10,000 on a credit of one month. Y became insolvent during the period of credit. Example: State whether the seller is an unpaid seller or not in each of the following alternative cases: Case (a) X sold some goods to Y for Rs. 10,000. Y paid Rs.9,900 but failed to pay the balance. Case (b) X sold some goods to Y for Rs. 10,000 and received a cheque for the full price as conditional payment. On presentment, the cheque was dishonoured by the Bank. Case (c) X sold some goods to Y for Rs. 10,000 on a credit of one month. One month has not yet expired. Case (d) X sold some goods to Y for Rs. 10,000 on a credit of one month and one month has expired and the price remains unpaid. Case (e) X sold some goods to Y for Rs. 10,000 on a credit of one month. Y became insolvent during the period of credit.