T
trinityjcm
Guest
What is the name of your state? SC
This is just a general question. Is a contract from a company that is run out of 1 state break the state law of another state it wants to do business in? An example of what I'm asking is as follows:
Company A resides in NY. Under new york law it is able to charge $60 late payment fee on an account that is overdue. This company also does business in, lets say, SC, where SC law is that the business can only charge $10 late payment on an overdue account. However, in the companies contract, the standard late fee is still labeled at $60. (please note that this is not a real case or laws, just an example)
My questions is what is the legality of this contract. Also, what are other national company laws that I may possibly look up (as finding federal business law is very difficult I have found out) as I can't find a clear description on the federal level as to what laws a Corporation is exempt from when doing business in other states.
Sorry if this is posted in the wrong place.
This is just a general question. Is a contract from a company that is run out of 1 state break the state law of another state it wants to do business in? An example of what I'm asking is as follows:
Company A resides in NY. Under new york law it is able to charge $60 late payment fee on an account that is overdue. This company also does business in, lets say, SC, where SC law is that the business can only charge $10 late payment on an overdue account. However, in the companies contract, the standard late fee is still labeled at $60. (please note that this is not a real case or laws, just an example)
My questions is what is the legality of this contract. Also, what are other national company laws that I may possibly look up (as finding federal business law is very difficult I have found out) as I can't find a clear description on the federal level as to what laws a Corporation is exempt from when doing business in other states.
Sorry if this is posted in the wrong place.