WAEC Commerce 1999 Question 48

Question 48

Purchase and Sale of Goods

A contract of sale of goods where ownership passes to the buyer on the payment of first instalment is,

  1. A.hire purchase
  2. B.cash with order
  3. C.deferred payment
  4. D.cash on delivery
Show the answer and explanation

Answer: C (deferred payment)

Explanation

Under deferred payment the buyer owns the goods from the first instalment.