Except when otherwise provided for in the contract, the price of goods must be fully paid as follows in the following circumstances:
(a) A buyer shall pay to the seller the price of goods bought by him/her at the time of buying them.
(b) The price of goods shall be paid in cash.
(c) The contract shall be deemed to have been concluded with a provision to pay the price and. hand over the goods simultaneously. Explanation For the purpose of this Section, the term ‘cash’ includes cheques, traveler’s cheques, promissory notes, bills of exchange, letter of credit, bank draft, credit card and telegraphic transfers payable through bank.