Illustrate what is the payment term

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Reference no: EM1384907

Q. Tool-R-Us is a tools wholesaler. Tools-R-Us sent RSU Toolmakers a purchase order offering to buy 200 Model 308 milling & drilling machines with R-8 spindles. The purchase order stated the credit terms to be 2% discount if payment made in 10 days, with the full amount due in 30 days. It did not comprise a forum selection clause. RSU responded with an acceptance from accepting the offer. The acceptance form, explain however, stated which full payment was due on delivery and which disputes under the contract would be settled by arbitration. Under the UCC:

(A) Do the parties have an agreement?

(B) Illustrate what is the payment term?

Reference no: EM1384907

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