Sharp Electronics Corporation v. Deutsche Financial Services Corporation

Vacated and remanded by published opinion. Judge NIEMEYER wrote the opinion, in which Senior Judge MINER and Judge GOODWIN joined.

OPINION

NIEMEYER, Circuit Judge:

This appeal presents the question under Illinois law of whether a finance company may unilaterally modify the terms of a standing floorplan financing agreement before it agrees to finance a given transaction. Because we hold that the floorplan financing agreement in this case was a unilateral contract that did not bind the finance company until it undertook to finance a specific transaction, we conclude that the finance company could,…