On credit, Gizelle Barr purchased a $1,000 television set at Bestest Buy Appliance Store. The store's credit policy required Gizelle to give Bestest Buy a security interest in the television set to secure her payment of the purchase price. Though she did not clearly comprehend the repossession procedures, Gizelle basically understood the terms; and she signed the credit slip and the security agreement on the reverse side.

Gizelle's payments to Bestest Buy, $40.00 per month, were to extend for three (3) years. Gizelle made the first six (6) payments without a problem, but then, beset with large medical bills, she defaulted on the seventh payment. Her payments up to that point had reduced her principal balance by approximately $180. Bestest Buy exercised its option to repossess the set.

Bestest Buy's standard operating procedure was to offer repossessed sets at a special sale, to take the best price offered, and to make arrangements for the defaulting customer to pay any deficiency between the resale price and the balance due on the original selling price. But Marcus Bass, the store manager, saw Gizelle's set and realized that it was just the type his wife wanted. He also knew that if he paid even a minimal price for the set, Bestest Buy would eventually get the rest of the money from Gizelle. Thus, Marcus paid Bestest Buy $100 for the set and the store proceeded to make arrangements to collect the balance from Gizelle. Marcus stated that the $100 was the highest price anyone would have offered for the set and that his actions were, therefore, commercially reasonable.

Is a store responsible for ensuring a customer's understanding of the nature and consequences of a sales transaction?

Why? Why not?

Elaborate & discuss your argument fully.