Question: Please provide in two simple paragraphs Target has a contract to purchase televisions from Sony. Target purchased the televisions by placing a phone call to
Target has a contract to purchase televisions from Sony. Target purchased the televisions by placing a phone call to Sony's headquarters. Sony delivered the televisions with an invoice stating that the terms for the sale required payment within 90 days and a 2% interest per month finance charge would be charged on accounts over 90 days. When Target failed to pay the invoice on time, interest was charged according to this rate. Later, Target refused to pay the accumulated interest charge, claiming there was not a meeting of the minds regarding the finance charge in any conversations prior to the sale. Discuss the Uniform Commercial Code Section 2-207 in general and with regard to this situation. Does Target owe the accrued interest? Why
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