BJones Entered into an Agreement with Marina Boats for the Purchase

B.Jones entered into an agreement with Marina Boats for the purchase of a new sailboat for $21,000.The purchase was to be on credit,subject to a favourable credit report on Jones.Marina Boats checked with Credit Reporting Company,and was informed that a B.Jones had defaulted on a number of debts,and currently had judgments in the amount of $30,000 against him.
-The credit arrangement for the purchase of the boat by Jones must disclose only the amount borrowed,the terms of loan,the monthly payments,and the true interest rate.