A sales contract is financed by a bank that has recourse to the seller should the purchaser default on the loan.

Name: A sales contract is financed by a bank that has recourse to the seller should the purchaser default on the loan.
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A sales contract financed by a bank typically comes with recourse to the seller in case the purchaser defaults on the loan. This means that the bank can pursue the seller for the outstanding balance owed by the purchaser, and the seller will be liable to repay the bank.

A Sales Contract Is Financed by a Bank That Has