Based on common law, the UCC provides that when the seller discovers the buyer has received goods while insolvent, the seller can reclaim the goods upon demand made __________.Multiple choice question.within 30 to 60 days after their receiptafter 25 days after their receiptafter 25 to 50 days after their receiptwithin 10 days after their receipt
Question
Based on common law, the UCC provides that when the seller discovers the buyer has received goods while insolvent, the seller can reclaim the goods upon demand made __________.Multiple choice question.within 30 to 60 days after their receiptafter 25 days after their receiptafter 25 to 50 days after their receiptwithin 10 days after their receipt
Solution
The correct answer is "within 10 days after their receipt". According to the Uniform Commercial Code (UCC), if a seller discovers that a buyer received goods on credit while insolvent, the seller may reclaim the goods upon demand made within 10 days after the receipt of the goods.
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