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Contracts Keyed to Calamari
Thompson v. Lithia Chrysler Jeep Dodge of Great Falls
Citation:
Supreme Court of Montana, 2008. 343 Mont. 392, 185 P.3d 332.Facts
Plaintiff purchased from the defendant a new truck. The purchase price was just under $40,000, and they traded in their old truck for $1,500 and put $2,000 cash down, financing the remaining balance of roughly $36,000 with the defendant. The financing agreement contained an arbitration agreement, and carried an annual percentage rate of 3.9%. After owning the new truck for a week, the plaintiffs were contacted by the defendants and informed that they would need to sign new financing papers at a rate of 4.9%, which the plaintiffs refused. They attempted to return the truck, but the defendant refused to return either their cash down payment nor their prior vehicle. Plaintiff brought suit, but the defendants moved to enforce the arbitration agreement.
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