Rooms To Go could not process the additional billings and requested that Woodhaven re-bill the
Rooms To Go could not process the additional billings and requested that Woodhaven re-bill the
Case 11-6 deals with Lessee Ltd., a company that operates in Britain and uses IFRS. The question in this case is how to classify a lease that Lessee, Ltd. acquired from Lessor Inc. The accounting standard that deals with leases under IFRS is IAS 17. IAS 17 was originally issued in September 1982 and was reissued in December 2003. It classifies leases as either finance leases or operating leases. Finance leases make it so that the lessee recognizes an asset and a liability and the lessor recognizes a receivable, basically transferring all the risks and benefits of ownership. Under operating leases, the lessor still recognizes the asset and the lessee recognizes an expense.…
Great Western Bank paid the invoice in full on the order completion to avail 2% discount. The Bank did check the invoice but did not pay attention on the shipping details since they assumed that Data Max will ship machines through Yellow Freight. The order was shipped by a different shipping company than what Data Max designated.…
Wally, business owner of Windy City Watches is located in downtown Chicago, IL. Business is booming and Wally needs to buy a large quantity of Rolek watches which sell for $50 apiece. He calls Randy Rolek, the wholesaler located in Milwaukee WI. They discuss terms on the phone for a while before coming to an agreement in which Wally offers to buy 100 watches for $25 each. Randy sends over an order form in which Wally states that he is agreeing to purchase watches from Randy for $25 each, but does not include the quantity in which he will buy. Randy sends 50 watches the following week with a note included stating that he has sent 50 watches and will send the other remaining 50 watches within a few days but includes the bill for the full 100 watches. Wally by this time changes his mind about buying the watches and offers to send back the 50 watches that were shipped and pay shipping expense, but will not be able to pay for any of the watches.…
Plaintiff and Defendant: The plaintiff/appellant is Harvestons Securities, Inc. The defendant/appellee is Narnia Investments, Ltd.…
After initial filing in the court, this case was turned into a class action lawsuit. After several appeals by FedEx Ground Package Delivery System Inc., this case finally ended in 2007 with the Second District Court of Appeal in California affirming the lower court’s decision that current and former drivers were not independent contractors but employee’s. The court also issued a certification order and affirmed the plaintiffs' right to recover their attorneys’ fees. To determine the fee award the court reversed and remanded the case back to a lower court for reconsideration of the amount and method of determining those fees.…
As it does not clarify in the readings exactly what the terms of shipment assigned were for the agreement between Siemens and NB Power, I have assumed that the agreement would have specified that Siemens specified that the contract was governed by Incoterms 2010 CFR- St John, New Brunswick, Canada. All responsibility for risk of loss or damage, as well as additional transportation costs now transfer to buyer. Seller responsibility ceases once goods pass the ships rail at the port of shipment (not destination).…
You are a support agent for Bug-Free Software Limited, which develops customized software for businesses on a contract basis. You receive the following email message from a large client:…
This report’s purpose is to examine the internal and external environments in which GWL Roofing Ltd (GWL) operates. It identifies and analyzes the advantages and disadvantages of various strategic alternatives, makes recommendations, and provides an implementation plan to allow GWL to adopt the recommended strategy.…
It is my opinion the meeting rooms should be a charge, late due books. The reason meeting rooms and late dues are to be charged this should help with the cast of the upkeep of the library and supplies that are not covered within the libraries budget.…
housing might have on smaller businesses that rely on Disneyland for their main income will be…
Southern Distribution, Inc., signs a receipt for goods that will also serve as a contract for the goods' transport. This is…
The client of human services can be defined by the nature of the problems that exist in their individual, family or group situation. Those individuals and their problems are the reason human services exist from the start. Problems are a part of everyday life, they can come and go and be major or minor. In understanding this essential part of human service, the helper can fully understand what exactly can help the client and what helping skills can be utilized. In this paper, I will discuss the range of problems facing these clients and what helping skills can be used by the helper in order to help the client.…
1. Grand Fabricating Co. and Good Corp. agreed orally that Good would custom manufacture a compressor for Grand at a price of $120,000. After Good completed the work at a cost of $90,000, Grand notified Good that the compressor was no longer needed. Good is holding the compressor and has requested payment from Grand. Good has been unable to resell the compressor for any price. Good incurred storage fees of $2,000. If Grand refuses to pay Good and Good sues Grand, the most Good will be entitled to recover is…
The previous holding of this case was appeal from the United States District Court for the District of Kansas. Transamerica, who conducts oil and gas drilling, solicited Lynes about their advertisement regarding an injection packer and decided purchased several of them only later to find that they did not perform properly. Plaintiff decided to file suit, under the Kansas Uniform Commercial Code (UCC), the plaintiff claim that there was a breach of an express warranty by the defendant. The acquired good did not perform. A jury in the state of Kansas found in favor of the plaintiff. The defendant appeals the decision.…
[1993] 2 Lloyd's Rep. 542 Subject: Shipping Keywords: Bills of lading; Cargo; Delivery; Insolvency Summary: Bill of lading; c & f contract; bank named as consignee; property passing separately from bill; buyer insolvent; delivery of cargo without production of bill; whether bank becoming pledgee of goods; whether bank having title to sue; whether shipowner liable for misdelivery Abstract: In 1985, shipowners delivered cargo to a c & f buyer, without production of the bills of lading, after being given an indemnity by the seller. The contract between the buyer and seller provided for property in the goods to pass shortly before arrival at the port of delivery and without bills being tendered to the bank. In 1986, about a year after shipment, the bills were eventually presented to a bank, under a letter of credit. The buyer had instructed the bank to extend the date by which the documents had to be negotiated. The bank agreed because it was short of foreign currency. The buyer had agreed with the seller that the bills should be withheld from the banking chain in order to delay the time for payment. On paying under the credit, the bank knew that the goods had been delivered and dispersed. The bank claimed against the shipowners in conversion. The bank, although named as consignee, was never a party to the original contract of carriage, nor did it have title under the Bills of Lading Act 1855 s.1. The main issue was whether the bank had title to sue for non-delivery. The judge held that the bank never became a pledgee and there was no intention to pass constructive possession of the goods and it was not possible for the bank to establish that it had title to sue in bailment. Held, dismissing the bank's appeal, that (1) the buyer under a normal c & f contract is not in a position to pledge the goods or the documents of title to…