Northwest Harvest Products, Inc., fell behind on its trade account with Major Products Company, Inc., and Major

Question:

Northwest Harvest Products, Inc., fell behind on its trade account with Major Products Company, Inc., and Major requested a note for the debt. Northwest sent a $79,000 corporate note. The balance on the note was incorrect, and Northwest sent a second corporate note for $79,361.89. After further discussion between the parties, Major sent a $78,445.24 note. The Chief Executive Officer of Northwest at that time signed the note "Donald H. Eoll CEO," attached a Post-It brand fax transmittal memo indicating that the note came from Donald Eoll at Northwest, and sent the note via facsimile. The note went unpaid, and Major sued both Eoll and Northwest for the debt. Is the CEO personally liable on the note? What are the parol evidence factors in this case? [Major Products Co., Inc. v. Northwest Harvest Products, Inc., 979 P.2d 905 (Wash. App. 1999)]
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Andersons Business Law and the Legal Environment

ISBN: 978-1305575080

23rd edition

Authors: David P. Twomey, Marianne M. Jennings, Stephanie M Greene

Question Posted: