Legal Advice Please!!! - Selling via email...
04 March 2005, 04:28 PM
#61
Scooby Regular
Join Date: Dec 2004
Posts: 397
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by Harry_Boy
Depends if the prospective buyer acted on reliance and to his detriment...
If so, the remedy (as Pete pointed out - ARGH, I'm agreeing with Mr Lewis
!!!) is for the buyer to be put into the position that they would have been in, had the contract been properly completed.
Anyway, in reality, the buyer will probably jump up & down a bit, and nothing will happen, so it's all rather theoretical....
If so, the remedy (as Pete pointed out - ARGH, I'm agreeing with Mr Lewis
!!!) is for the buyer to be put into the position that they would have been in, had the contract been properly completed.Anyway, in reality, the buyer will probably jump up & down a bit, and nothing will happen, so it's all rather theoretical....
04 March 2005, 04:33 PM
#62
Scooby Regular
Join Date: Jan 2002
Location: WYIOC. The Foxglove, Kirkburton, Huddersfield.
Posts: 5,400
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by Vipa
Harry... (purely to satisfy my own personal interest - PM me if it will stop people thinking I'm trying to prove any points)
Could you expand or put into Laymans terms
"If the buyer in Bodgery's case acted in reliance on the 'agreement' between the parties to his detriment, then this can constitute consideration, and hence form a binding contract."
Cheers
Paul
Could you expand or put into Laymans terms
"If the buyer in Bodgery's case acted in reliance on the 'agreement' between the parties to his detriment, then this can constitute consideration, and hence form a binding contract."
Cheers
Paul
Consideration does not have to be monetary. It can be money or 'money's worth'. That includes act act of detriment by one party, in reliance on the terms of an agreement.
Incidentally, for an illustration of 'money's worth' in a property transaction context, refer to a 'peppercorn' rent.
If you get into debates about what constitutes consideration though, and whether an act in reliance on a contractual 'meeting of minds' is 'detrimental', sooner or later, you'll end up talking about estoppel.... And that is a lovely vehicle invented by the courts to fill holes in our lovely laws of contract....
04 March 2005, 04:48 PM
#64
Scooby Regular
Join Date: Dec 2004
Posts: 397
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by Harry_Boy
Sure Paul
Consideration does not have to be monetary. It can be money or 'money's worth'. That includes act act of detriment by one party, in reliance on the terms of an agreement.
Incidentally, for an illustration of 'money's worth' in a property transaction context, refer to a 'peppercorn' rent.
If you get into debates about what constitutes consideration though, and whether an act in reliance on a contractual 'meeting of minds' is 'detrimental', sooner or later, you'll end up talking about estoppel.... And that is a lovely vehicle invented by the courts to fill holes in our lovely laws of contract....
Consideration does not have to be monetary. It can be money or 'money's worth'. That includes act act of detriment by one party, in reliance on the terms of an agreement.
Incidentally, for an illustration of 'money's worth' in a property transaction context, refer to a 'peppercorn' rent.
If you get into debates about what constitutes consideration though, and whether an act in reliance on a contractual 'meeting of minds' is 'detrimental', sooner or later, you'll end up talking about estoppel.... And that is a lovely vehicle invented by the courts to fill holes in our lovely laws of contract....
Someone agrees to sell me an 05 Scooby for £10k (no money changes hands but in all other respects there is the makings of a contract)
On the back of this I go off and buy some lovely 19" Khan Alloys (WRX specific) for £2,000
The bloke selling the Scoob then decides not to!
I can't find another 05 Scoob in my price range so end up selling the Khans for £1,500 in the process losing £500.
From your explanation above:
My buying the alloys was me acting in reliance of the terms of the agreement?
The act of me buying said alloys also constitutes 'consideration?'
So I should therefore be able to sue for £500 which would put me financially back where I started?
Paul (I'm enjoying this... my mum always said I should study law!)
04 March 2005, 04:58 PM
#65
Scooby Regular
Join Date: Jan 2002
Location: WYIOC. The Foxglove, Kirkburton, Huddersfield.
Posts: 5,400
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by Vipa
So just so I'm straight..... an example
Someone agrees to sell me an 05 Scooby for £10k (no money changes hands but in all other respects there is the makings of a contract)
On the back of this I go off and buy some lovely 19" Khan Alloys (WRX specific) for £2,000
The bloke selling the Scoob then decides not to!
I can't find another 05 Scoob in my price range so end up selling the Khans for £1,500 in the process losing £500.
From your explanation above:
My buying the alloys was me acting in reliance of the terms of the agreement?
The act of me buying said alloys also constitutes 'consideration?'
So I should therefore be able to sue for £500 which would put me financially back where I started?
Paul (I'm enjoying this... my mum always said I should study law!)
Someone agrees to sell me an 05 Scooby for £10k (no money changes hands but in all other respects there is the makings of a contract)
On the back of this I go off and buy some lovely 19" Khan Alloys (WRX specific) for £2,000
The bloke selling the Scoob then decides not to!
I can't find another 05 Scoob in my price range so end up selling the Khans for £1,500 in the process losing £500.
From your explanation above:
My buying the alloys was me acting in reliance of the terms of the agreement?
The act of me buying said alloys also constitutes 'consideration?'
So I should therefore be able to sue for £500 which would put me financially back where I started?
Paul (I'm enjoying this... my mum always said I should study law!)
Offer, Acceptance, Meeting of Minds, plus act of consideration equals binding contract. You acted in reliance, and suffered loss as a result of the breach.
One more thing though....
You have a legal duty to mitigate your loss. So, if you can sell the wheels for the same amount, then your only loss is the cost of advertising and other 'disbursements' incidental to the sale and breach.
If, on the other hand, your wheels cannot be sold (if eg you were the only person in the world that wanted/needed those particular ones), and they are useless to you or anyone else, you would be able to sue for breach and recover your full loss.
04 March 2005, 05:05 PM
#66
Scooby Regular
Join Date: Dec 2004
Posts: 397
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by Harry_Boy
Got it in one mate....!!
Offer, Acceptance, Meeting of Minds, plus act of consideration equals binding contract. You acted in reliance, and suffered loss as a result of the breach.
One more thing though....
You have a legal duty to mitigate your loss. So, if you can sell the wheels for the same amount, then your only loss is the cost of advertising and other 'disbursements' incidental to the sale and breach.
If, on the other hand, your wheels cannot be sold (if eg you were the only person in the world that wanted/needed those particular ones), and they are useless to you or anyone else, you would be able to sue for breach and recover your full loss.
Offer, Acceptance, Meeting of Minds, plus act of consideration equals binding contract. You acted in reliance, and suffered loss as a result of the breach.
One more thing though....
You have a legal duty to mitigate your loss. So, if you can sell the wheels for the same amount, then your only loss is the cost of advertising and other 'disbursements' incidental to the sale and breach.
If, on the other hand, your wheels cannot be sold (if eg you were the only person in the world that wanted/needed those particular ones), and they are useless to you or anyone else, you would be able to sue for breach and recover your full loss.
So are you in practice or corporate?
Paul
04 March 2005, 05:09 PM
#67
Scooby Regular
Join Date: Jan 2002
Location: WYIOC. The Foxglove, Kirkburton, Huddersfield.
Posts: 5,400
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by Vipa
Excellent...... thanks for that Harry........
So are you in practice or corporate?
Paul
So are you in practice or corporate?
Paul
04 March 2005, 06:23 PM
#68
Scooby Regular
Join Date: Sep 2004
Posts: 2,486
Likes: 0
Received 0 Likes
on
0 Posts
So basically Bodgery is alright unless his prospective buyer has gone out and bought a new custom made canoe to go on the roof bars he was expecting.
In which case you'd best learn to paddle Bodgery
In which case you'd best learn to paddle Bodgery
04 March 2005, 08:09 PM
#70
Scooby Regular
Join Date: Dec 2004
Posts: 397
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by ajm
Good. Now we've got that sorted out let's start a witch hunt against Bodgery for reneging on the deal!
Burn Him!!!
Burn Him!!!
05 March 2005, 08:23 AM
#71
Scooby Regular
Thread Starter
Join Date: Sep 2004
Posts: 155
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by ajm
Good. Now we've got that sorted out let's start a witch hunt against Bodgery for reneging on the deal!
Burn Him!!!
Burn Him!!!
Cheers for all the help guys.
21 March 2005, 09:06 AM
#73
Scooby Regular
Join Date: Feb 2004
Posts: 73
Likes: 0
Received 0 Likes
on
0 Posts
I know this has been put to bed, but I just think it is worth stating that while valid consideration can take the form of a payment of money or some other service, the promise of a money payment or service in the furture is valid consideration. Therefore actual payment does not have to occured to form a contract as the promise to pay (for example on delivery or collection) will be the consideration.
And for whats its worth I am a Solicitor!
And for whats its worth I am a Solicitor!
Thread
Thread Starter
Forum
Replies
Last Post
Mattybr5@MB Developments
Full Cars Breaking For Spares
28
28 December 2015 11:07 PM
Mattybr5@MB Developments
Full Cars Breaking For Spares
12
18 November 2015 07:03 AM