Daniel Martin and John Duke contracted with J&S Distributors, Inc., to purchase a KIS Magnum Speed printer for $17,000. The parties agreed that Martin and Duke would send one half of the money as a deposit and would pay the balance upon delivery. When the machine arrived five days late, Martin and Duke refused to accept it stating that they had purchased a substitute machine elsewhere. Martin and Duke requested the return of their deposit but J&S refused. Martin and Duke sued Jeff Sheffer and J&S for breach of contract, fraud, breach of good faith, and unfair and deceptive trade practices. The defendants counterclaimed for full performance of the contract pursuant to a clause in the contract, which provides the following:
In the event of non-payment of the balance of the purchase price reflected herein on due date and in the manner recorded or on such extended date which may be caused by late delivery on the part of [the seller], the Customer shall be liable for:
(1) Immediate payment of the full balance recorded herein; and
(2) Payment of interest at the rate of 12% per annum calculated on the balance due, when due, together with any attorney’s fees, collection charges and other necessary expenses incurred by [the seller]. What are the rights of the parties?