Further value to lee after that check was paid

Assignment Help Operation Management

Reference no: EM131153121

Hall- Mark regularly supplied electronic parts to Peter Lee. On September 11, 1992, Lee gave Hall-Mark a $100,000 check for parts it had received. Hall-Mark continued to ship parts to Lee. On September 23, 1992, Lee’s check was dishonored by the bank. On September 25, 1992, Lee delivered to Hall-Mark a cashier’s check for $100,000. Hall-Mark shipped nothing more to Lee after receipt of the cashier’s check. On December 24,1992, Lee filed a voluntary petition for bankruptcy. The trustee filed a complaint to have the $100,000 payment to Hall-Mark set aside as a voidable preference. Hall-Mark said it was entitled to the payment because it gave value to Lee. The trustee said that the payment was not actually made until the cashier’s check was delivered on September 25,1992, and that Hall-Mark gave no further value to Lee after that check was paid. Who is correct?

Reference no: EM131153121

Questions Cloud

Matrix project management models : Traditional, pure project, and matrix project management models. What are the primary differences between these different project management models? Each may be appropriate depending on the situation.

Define ethics within an organizational context : Conflict Management & Negotiation: The pressure of bargaining can make us think we must or should compromise our personal ethics. Define ethics within an organizational context. Assess how an individual’s and an organization’s ethical composition can..

Discuss the pros and cons of the culture emphasis : Discuss the pros and cons of the US culture’s emphasis on this monochronic view of time as it relates to business practices versus the polychronic view possessed by many other cultures. (Marketing)

Provide grants for entrepreneurs starting new businesses : Should the government provide grants for entrepreneurs starting new businesses? Should the government guarantee loans for small businesses that are missing the necessary track record, assets, or other ingredients to obtain a commercial bank loan? Wha..

Further value to lee after that check was paid : Hall- Mark regularly supplied electronic parts to Peter Lee. On September 11, 1992, Lee gave Hall-Mark a $100,000 check for parts it had received. Hall-Mark continued to ship parts to Lee. The trustee said that the payment was not actually made until..

Based on six sigma theory : A manager states that her process is really working well. Out of 1.500 parts, 1,469 were produced free of a particular defect and passed inspection. Based on Six Sigma theory, how would you rate this performance, other things being equal?

Obtain a loan application from the local bank : Obtain a loan application from the local bank and categorize each question in terms of which of the five Cs it is attempting to assess. As you categorizethe sections of the application into the five C's provide a short summary of why you felt it belo..

What will be the information turnaround time : C&A uses an assembly line of 21 stations to make a product. The cycle time is 7 minutes per unit. Station 8 is the most error-prone operation. Inspection occurs at the last station. What will be the information turnaround time (in minutes ) for a def..

What is the overall equipment effectiveness of the machine : A machine is available 11 hours a day. Each part takes 85 minutes to fabricate and 13 minutes to setup. 12% of the parts made are defective and must go through the machine again to be reworked, during which both setup and fabrication have to be perfo..

User Account

All Pages