Factors, a company in the business of purchasing accounts receivable and lending money to other businesses, asked Unisearch to conduct a Uniform Commercial Code (UCC) search on its behalf for liens against The Benefit Group, Inc. Unisearch completed the search and sent Factors an invoice along with a search report showing no security interests. The invoice was identical to forty-seven others that Unisearch had previously sent to Factors. Upon receiving the report, Factors lent $100,000 to The Benefit Group, secured by its existing and future accounts receivable and other business assets. A year later, The Benefit Group defaulted, and when Factors tried to foreclose on the collateral, it discovered a prior UCC filing under the name of “The Benefits Group, Inc.” Factors sued Unisearch, alleging breach of contract and negligence. Prior to trial, Unisearch brought a motion for summary judgment on damages, claiming that its liability was limited to $25 because a clause in its invoice limited liability for any action arising out of or related to the contract to that amount. The limitation of liability was printed on the front of the one-page invoice in the upper right-hand corner in a shaded box. Factors argued that the limitation of liability was unenforceable. Is the limitation of liability unenforceable? On what basis? [Puget Sound Financial, L.L.C. v. Unisearch, Inc.,47 P.3d 940 (Wash. 2002).]
Accounts Receivable Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
harvesting machines. It...... ... again to go into the manufacture of harvesting machines anywhere in the United States.’’ The seller, which had national and international goodwill in its business, now begins the manufacture...
reserves. During 2013, $ 10...... ... positive effect on the bottom line. Required: a. What are the ethical considerations implied in the rationale for Fillups’s decision? Explain. b. Do you believe that an accounting alternative...
net purchases of $79,500 for concessions and had net sales of $150,000 before a breakin when its concession inventory was stolen. For the past several years, Vacation Properties\' gross profit percentage has been...
effect of the error on 2024’s cost of goods sold, net income, and retained earnings. Assume that the error is not discovered until 2025 and that a periodic inventory system is used. Ignore income taxes.
each day, which are assumed to be Poisson distributed. The consultant’s overhead requires that he consult with at least 5 customers in order that fees cover expenses. Find the probabilities of 0– 10 customers in a given day....
redeem its outstanding bond issue before the maturity date in 2024. the bonds had a face value of $7,300,000 and ruthilda paid $7,700,000 to redeem them. the bonds were originally issued at a premium of $430,000 and at the...
communities). Overall planning for this group is done in its Coordinating Technical Office. This office currently is planning agricultural production for the coming year. The agricultural output of cach zone is limited by both...
Stevens, to the defendants, Publicis S.A., a French global communications company, and its American subsidiary. The sale involved two contracts: a stock purchase agreement pursuant to which the plaintiff sold all of his...
of the head at point-blank range by a playmate. As a result of his injuries, including the loss of his right eye, Fountain required extensive lifesaving medical services from a variety of medical services providers, including Yale...
thousands of dollars): 2015 Current assets .....................................................$2,000 Net fixed assets.................................................... 3,000 Total...
r2 = 35.48%, large effect b.) r2 = 55.00%, large effect c.) r2 = 64.52%, large effect d.) r2 = 6.45%, small effect 2.) Perform Tukey\'s HSD post-hoc test by calculating the HSD value. Based on the HSD value, which of the following statements...