> if you enter into such an agreement you are actively misleading the other party and they may very well have cause to sue you personally if your gamble does not pay off and this will likely stick
True, but not necessarily misleading. And of course you may be subjecting yourself to a lawsuit (also depends on the juridical safety of the location you're in)
In that context you are right. But in the context of ordering a large shipment of goods that you have no ability to pay for gambling that you will have the money by the time the invoice is due is going to get you looked at in a different light. Depending on the magnitude of the transgression you could be looking at anything from an honest mistake all the way up to fraud and deception.
It's important to know where the distinction lies, and as a general rule you should not contract when you can expect that you will not be able to perform.
And by your example your expectation to perform hinges on your suppliers ability to deliver and all things being normal you are actually able to expect this. That's a 'chain' of liability that does not end with you.
True, but not necessarily misleading. And of course you may be subjecting yourself to a lawsuit (also depends on the juridical safety of the location you're in)
Selling before buying is pretty common.