Open account is an arrangement between
the seller whereby the goods are manufactured and delivered before payment is
required. Open account provides for payment at some stated specific future date
and without the buyer issuing any negotiable instrument evidencing his legal
commitment. The seller must have absolute trust that he will be paid at the
agreed date. The seller should recognize that in certain instances it is
possible to discount open accounts receivable with a financial
institution.
单选题
Through open account, the seller will manufacture goods before payment is required.
【正确答案】
A
【答案解析】
单选题
he buyer has to prove his promise in an open account.
【正确答案】
C
【答案解析】
单选题
The seller in an open account must know that in some circumstances he can present open account receivable to a law institution for acceptance.