Credit Today is the fastest growing publication in the credit field, favored by more and more top credit executives. We cover the world of business, or trade credit, with concise, yet in-depth, reporting. We also publish the most in-depth salary survey in the industry, covering all major credit positions.Credit Today is the fastest growing publication in the credit field, favored by more and more top credit executives. We cover the world of business, or trade credit, with concise, yet in-depth, reporting. We also publish the most in-depth salary survey in the industry, covering all major credit positions.   
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CreditPoint Software
Is the Warehouse Responsible For Payment in this SNAFU? Exploring Documents of Title

Printer-Friendly Format

"You don't have the lumber!" Credit Manager Jack Cruise exclaimed "What do you mean, you don't have the lumber?"

"It went out of here on a truck two weeks ago," replied Warehouse Manager Frank King. "I don't know where it is now, and I don't care. I've got the receipt."

"I demand to see that receipt!" Jack growled.

"Keep your shirt on, Cruise," Frank replied. "I'll get it out of the files right now."

Frank found the receipt, but seeing it didn't make Jack any happier.

"This is made out to Building Supply Corporation," Jack pointed out.

"So it is," Frank replied. "So what?"

"We sold that lumber to Speedy Construction," Jack replied. "And we know it was Speedy Construction that stored it here. What's the big idea of turning it over to Building Supply?"

"When we issued the receipt, it didn't say Speedy Construction or anybody else," said Frank. "That space was blank. I don't know who filled it in, but when we got it back it said Building Supply Corporation, so as far as we're concerned, they were entitled to pick up the lumber."

"Well, we haven't been paid for it yet," Jack told him. "So as far as we're concerned, you're responsible for paying now."

Does Jack have a case?

Click on "next" below for the decision.




Next >>


Printer-Friendly Format
·  Credit & the Law: Summary Judgements
·  Bulk Sales Laws: Can Ed Recover His Goods?
·  16-Steps to Take When a Customer Files Bankruptcy
·  Credit and the Law: What to do With a "Paid in Full" Check That Isn't
·  Passage of Title
·  Statutes of Limitations: Carved in Stone?
·  What's in a Name? Financing Statements Revisited


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