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Swifty Company is involved in the design, manufacture, and installation of various types of wood products for large construction projects. Swifty recently completed a large contract for Woodard Inc., which consisted of building 60 different types of concession counters for a new soccer arena under construction. The terms of the contract are that upon completion of the counters, Woodard would pay $3,462,000. Unfortunately, due to the depressed economy, the completion of the new soccer arena is now delayed. Woodard has therefore asked Swifty to hold the counters for 2 months at its manufacturing plant until the arena is completed. Woodard acknowledges in writing that it ordered the counters and that they now have ownership. The time that Swift COmpany must hold the counters is totally dependent on when the arena is completed. Because Swifty has not received additional progress payments for the arena due to the delay, Woodard has provided a deposit of $331,000.

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