Golden Triangle Energy v. Wickes Lumber

OPINION

BURGESS, Justice.

The parties entered into an agreement allowing appellants to purchase items on credit from appellee. Under that contract, if appellants did not pay the full balance of the account within five days of the monthly due date appellee would assess a “delinquency charge of 2 percent or less as permitted by law.” On several occasions the account became delinquent and a “delinquency charge” was assessed. The charge was then included in the principal amount owed on the next month’s bill.

On October 8, 1985, appellants executed a promissory note, payable to appellee, in the…