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An Idaho resident bought a large quantity of jeans over the Internet from a Maine company. When a dispute over the quality of the product arose, the Idaho resident sued the Maine company in Idaho state court. When the Maine company protested, the supreme court of Idaho, in Blimka v. My Web Wholesalers, held that the buyer:
APR
The Annual Percentage Rate, a measure used to calculate the cost of borrowing, including interest and other fees, shown as a yearly rate.
Payday Loan
A type of short-term borrowing where a lender provides high-interest credit based on a borrower's income and credit profile, typically to be repaid by the next payday.
Average Daily Balance
The average amount owed per day during a billing cycle.
Finance Charges
The cost of borrowing money on credit, including interest and other fees.
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