Section 548
Payment Of Price Of Goods
(1) Except as otherwise provided for in
the contract, the price of goods shall be paid as follows in any of
the following circumstances:
(a) The price of goods to be paid by the buyer to the
seller, at the time of the purchase of goods by the
buyer,
(b) At the time of the transfer of the goods.
(2) While making payment of the price of goods pursuant
to sub-section (1), it shall be paid in cash.
Explanation: For the purposes of this Section, the term
“cash” includes a cheque, traveler's cheque, promissory note, bill of
exchange, letter of credit, bank draft, credit card and telegraphic
transfer, payable through bank.