alleryStart learning →A person is insolvent under the Act if he has:
ACeased to pay debts normally
BRefused to deliver goods
CBeen convicted of fraud
DSold all of his stock
Answer & Solution
Correct answer: A. Ceased to pay debts normally
Insolvency under the Act means ceasing to pay debts in the ordinary course or being unable to pay them as they fall due.
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Related questions
The Indian Sale of Goods Act, 1930 borrowed heavily from which law?In a sale by sample, the bulk must correspond with the sample in:In a sale by sample, the buyer is impliedly entitled to:A contract is a sale by sample when it has:An express warranty or condition, as to implied ones:An implied condition about quality or fitness may be annexed by:An implied condition of merchantable quality applies if goods are bought from a seller whoAn implied condition of fitness arises when the buyer: