Difference between a sale or return

Assignment Help Management Theories

Reference no: EM131471860

Question: Kenneth Stevenson, a car dealer doing business as T & S Enterprises, asked Peter Pan Motors if it could find a certain kind of white BMW. Peter Pan said it could and located and bought one. T & S picked up the car. The parties had made previous deals in which Peter Pan would sell T & S cars, and T & S would resell them. T & S deposited payment for the BMW in Peter Pan's bank account, but stopped payment on the check and told Peter Pan it did not want the car. While T & S had the BMW, a creditor, Wayne Minor, claimed it. He said the transaction was a sale or return, so the BMW's title passed to T & S, and Minor had a valid claim against it. Was there a sale or return?

Reference no: EM131471860

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