In terms of conditional sales contracts,a(n)________ contract occurs when the seller and buyer agree that the buyer may return the goods at a later time.
A)sale-on-approval
B)sale-or-return
C)condition-on-sale contract
D)illusory
E)implied-in-law

Question

Quizplus · Accepted Answer

A sale-or-return contract occurs when the seller and buyer agree that the buyer may return the goods at a later time.Such contracts usually occur when the buyer is buying inventory to resell.

In Terms of Conditional Sales Contracts,a(n)________ Contract Occurs When the Seller