Under the Banning of Unregulated Deposit Schemes Act, 2019, credit received by a buyer from a seller on…
BUDS s.2(4)(g) excludes credit received by a buyer from a seller on the sale of any movable or immovable property from the deposit definition, since it arises from a sale…
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Under the Banning of Unregulated Deposit Schemes Act, 2019, credit received by a buyer from a seller on sale of property is:
Answer and explanation
Correct answer B
BUDS s.2(4)(g) excludes credit received by a buyer from a seller on the sale of any movable or immovable property from the deposit definition, since it arises from a sale rather than a repayable advance.