Can quality transfer this right to rapid without pam consent

Assignment Help Financial Management

Reference no: EM131359015

Pam borrows $5,000 from Quality Auto Sales to buy a car. When Pam does not pay the loan or return the car, Quality wants to transfers the right to the payment to Rapid Collection Agency. Rapid agrees to pay Quality for this right, but for a price that is less than the amount owed. Can Quality transfer this right to Rapid without Pam’s consent? If so, and Quality committed fraud in the deal with Pam, could Pam legitimately refuse to pay Rapid? Explain.

Reference no: EM131359015

Questions Cloud

What are arguments supporting each party position : Myra owns a house, which she advertises for sale for $200,000. On May 1, Nicole offers Myra $180,000 for the house. On May 5, Myra delivers to Nicole a form that includes additional terms but does not state a price. Myra claims that there was no cont..

Against retail electronics for the cost of the goods : Quality Computer Company agrees to sell one hundred hard drives to Retail Electronics, Inc. The hard drives, which Retail Electronics expressly requires to have certain amounts of memory, are to be shipped “F.O.B. A few hours later, the drives are de..

Shares of common stock outstanding : Sports Corp has 10.4 million shares of common stock outstanding, 5.4 million shares of preferred stock outstanding, and 1.4 million bonds. If the common shares are selling for $25.4 per share, the preferred share are selling for $12.9 per share, and ..

Opportunities presented by internal operating structure : For pharmaceutical companies such as CVS Health Corp. and McKesson pharmaceutical ...(please answer question 1-5 below). Analyze opportunities presented by internal operating structure while creating innovative methods of achieving and maintaining fi..

Can quality transfer this right to rapid without pam consent : Pam borrows $5,000 from Quality Auto Sales to buy a car. When Pam does not pay the loan or return the car, Quality wants to transfers the right to the payment to Rapid Collection Agency. Rapid agrees to pay Quality for this right, but for a price tha..

Silicon chips to beta e-products corporation : Alpha Electronic Components, Inc., ships 100,000 silicon chips to Beta E-Products Corporation. The chips arrive a week early, on a Friday that is extremely busy on Beta’s receiving dock. Beta’s dockworkers check the bill of lading against the quantit..

Earnings growth comes from investment of retained earnings : Halliford Corporation expects to have earnings this coming year of $3.29 per share. Halliford plans to retain all of its earnings for the next two years. For the subsequent two? years, the firm will retain 52% of its earnings. Assume? Halliford's sha..

Midstates utility corporation contracts with northern energy : Midstates Utility Corporation contracts with Northern Energy Company to buy 50,000 gallons of heating oil. Northern agrees to deliver the oil in five equal installments between October 1 and the following March 15. When Northern tenders the rest of t..

Wheeler claimed jennings had breached their contract : On September 1, Jennings, a used-car dealer, wrote a letter to Wheeler, stating, “I have a 1955 Thunderbird convertible in mint condition that I will sell you for $13,500 at any time before October 9. On September 29, Wheeler accepted Jennings’s offe..

User Account

All Pages