Under the Sale of Goods Act, 1930, where seller draws on buyer for price and sends bill of exchange…
Section 25(3) deals with a seller who draws on the buyer for the price and sends him the bill of exchange with the bill of lading or railway receipt "to secure acceptance or…
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Under the Sale of Goods Act, 1930, where seller draws on buyer for price and sends bill of exchange with document of title, it is to secure:
Answer and explanation
Correct answer C
Section 25(3) deals with a seller who draws on the buyer for the price and sends him the bill of exchange with the bill of lading or railway receipt "to secure acceptance or payment of the bill of exchange". The documents are a security for the price, not a step in delivery, inspection or insurance.
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