Taylor's Marine, Inc. v. Waco Manufacturing, Inc.

Tom Glaze, Justice.

The appellee manufactures recreational boats, and during the period from April 6,1987, to July 28, 1988, the appellant Taylor’s Marine purchased twelve boats on an open account. The parties entered into twelve separate sales contracts, and all of these contracts, by agreement of the parties, provided for a deferred payment date after the date of delivery. On August 31, 1987, Taylor’s Marine became delinquent on six of the boats, and the parties agreed that Taylor’s Marine would pay interest of 1 % per month until payment could be made. As Taylor’s Marine also failed to pay…