True or False - Credit sale/ Deferred payment. 3. Fill in the blank In Credit sale Agreement, the buyer

Here are the answers for the True or False statements and the fill-in-the-blank question: 2. True or False - Credit sale/Deferred payment (i) The buyer takes possession and ownership the moment he/she signs. This statement is True. In a credit sale, ownership transfers to the buyer immediately upon signing the agreement, even if payments are deferred. The buyer also takes possession at this time. Your previous answer was correct. (ii) It is suitable for buying durable goods. This statement is True. Credit sales are commonly used for durable goods like appliances and furniture, allowing buyers to use the item while paying over time. (iii) Buyer can sell the item even before finishing paying. This statement is True. Since ownership transfers immediately in a credit sale, the buyer legally owns the goods and can sell them, even if they still owe money. (iv) Transactions can be financed by finance companies. This statement is True. Finance companies, including Hire Purchase Finance Companies (HPFCs), can provide financing for credit sale transactions. 3. Fill in the blank In Credit sale Agreement, the buyer takes ownership of the goods immediately upon signing the agreement. What's next? Send 'em! 📸