Will harpers prevail in its lawsuit against katys

Assignment Help Financial Accounting
Reference no: EM13787756

Katy's Catering Co. places an order with Sharpe's Supply House for 100 white linen table clothes. A week later, Sharpe's delivers the order to Kathy's in ten boxes. Katy opens up a few boxes, determines that they contain white linen tablecloths, and hands over a check for $1,000 to Sharpe's deliveryman. Sharpe's Supply then properly negotiates Katy's check to its wholesaler, Harper Linens, as payment on Sharpe's account. The next day, Katy opens up the reamining boxes and discovers that about a third of the order is messed up. Some of the tablecloths are blue instead of white; some are polyester instead of linen. She immediately calls her back and places a stop-payment order on the check. The next day, Harper's deposited Katy's check for payment, but of course payment was refused because of the stop-payment order. Harper's then files a lawsuit against Katy's Catering seeking to collect on the check

Will Harper's prevail in its lawsuit against Katy's?

Why or why not?

Be sure to describe & define Harper Linen's legal status

Reference no: EM13787756

Questions Cloud

Prepare a summary journal entry to record raw materials : In January, Knox Company requisitions raw materials for production as follows: Job 1 $900.00, Job 2 $1400.00, Job 3 $700.00, and general factory use $600. Prepare a summary journal entry to record raw materials used.
Lieutenant leading an infantry platoon issues : Organizational structure has six key elements. Which of the following is not one of these elements?
Current portion of mortgage payable : The monthly payment on a 1,000,000 15 yr. mortgage at 6% is 8,438.57 per month. How much of that 1,000,000 on day 1 is deemed to be "current portion of mortgage payable"?
Developing policy arguments and debate : "Developing Policy Arguments and Debate" Please respond to the following: •Develop a policy argument or claim that is definitive, designative, evaluative, and advocative, using one of these terms: (a) crime, (b) pollution, (c) terrorism, (d) quality ..
Will harpers prevail in its lawsuit against katys : Katy's Catering Co. places an order with Sharpe's Supply House for 100 white linen table clothes. A week later, Sharpe's delivers the order to Kathy's in ten boxes. Katy opens up a few boxes, determines that they contain white linen tablecloths, and ..
Explain what data you have collected or researched : Discuss what data you have collected or researched to indicate there is a problem. Include at least two sources of data and how each is relevant to the problem. Be sure to cite where your data came from
Write summary of case study pinto fires by dennis a gioia : Write a summary of Case Study- PINTO FIRES by Dennis A. Gioia. esearch the case and/or the company in the University Library or on the internet for additional information.
Discuss the urbanization of texas in the 20th : Answers should be between 200-300 words. Discuss the urbanization of Texas in the 20th and 21st centuries. How and why did Texas go from a predominantly rural, to a predominantly urban state? Describe the three major urban areas in the state, and how..
Refrigerated display case-holder in due course : Dave's Delicious Desserts, Inc. buys a refrigerated display case for its store from The Fridge Supply Co. Dave's pays by check made out to the order of the Fridge Supply Co. in the amount of $1000. The Fridge Supply CO. doesn't cash the check. Instea..

Reviews

Write a Review

Financial Accounting Questions & Answers

  Will this profitability last

What would you recommend that the monopolist do to maximize profits? b.) Why might a business owner keep their business open but let it deteriorate, rather than shut it down? Will this profitability last?

  Journal entry on partners books for the acquisition

Purpose the journal entry on Partner's books for the acquisition of Sizemic Corporation's net assets.

  Q1 heflin company incurs these expenditures in purchasing a

q1 heflin company incurs these expenditures in purchasing a truck cash price 17700 accident insurance during use 1810

  Differentiate the ethical and managerial perspectives

Explain why unexpected accounting earnings and abnormal share price returns are expected to be related and identify to which stream of capital markets research this relates.

  What is each partner initial basis on partnership interest

What is the amount of gain or loss recognized on the sale of the land contributed by Jessica? What is the character of this gain or loss?

  What would your export response to coca-cola

How would concepts of utility, income, and substitution impact your purchases based on the rise in cost of carbonated beverages?

  Prepare a depreciation schedule

Prepare a depreciation schedule: Z Company’s fiscal year starts July 1st and ends June 30th. The company purchased a new machine which was installed and operational at the beginning of the second quarter in October. What factors should Z Company cons..

  Question a depreciation plan for semi-trucks of ichiro

question a depreciation plan for semi-trucks of ichiro manufacturing company was demanded by your auditor soon after

  Prepare journal entry to write off janets uncollectible debt

On January 31, 2010, Janet won the lottery and on the same day she decided to repay all of her original debts to everyone whom she owed money. Prepare the journal entry to record Walter's unexpected receipt of Janet's payment.

  Calculate the firm tax on its operating earnings

Calculate the firm tax on its operating earnings only find the tax as well as the after tax amount attributable to the interest income from zig manufacturing bonds

  Journal entries for collected the correct balance due

Journal entries for Collected the correct balance due. Collected the correct balance due from the Transaction 4 sale of Merchandise, net of the discount.

  Discuss whether or not it would be possible for company

Discuss whether or not it would be possible for Calcor Company to achieve the first two of Kuhn’s goals without achieving his third goal of 30% return on average assets before interest and taxes.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd