Answered: When the price of a sale with right to…

Business

Accounting

When the price of a sale with right to repurchase is unusually inadequate

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

The sale with right to repurchase the property will be presumed equitable mortgage, when?

a. When the price of a sale with right to repurchase is unusually inadequate

b. When the vendee binds himself to pay the taxes on the thing sold

c. When the vendee took over the property

d. When the vendor does not want to deliver the property.

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