Verbal agreement to buy then withdrawing
05 January 2006, 05:43 PM
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Verbal agreement to buy then withdrawing
If someone was to verbally agree to purchase a car then decided that the vehicle was not what they wanted & no deposits or paperwork had been signed where would they stand?
A private vendor has made a suggestion that unless the sale goes through they will take action to recover the sale price of the vehicle.
Can this happen?
cheers Simon
A private vendor has made a suggestion that unless the sale goes through they will take action to recover the sale price of the vehicle.
Can this happen?
cheers Simon
05 January 2006, 05:48 PM
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Originally Posted by simo
If someone was to verbally agree to purchase a car then decided that the vehicle was not what they wanted & no deposits or paperwork had been signed where would they stand?
A private vendor has made a suggestion that unless the sale goes through they will take action to recover the sale price of the vehicle.
Can this happen?
cheers Simon
A private vendor has made a suggestion that unless the sale goes through they will take action to recover the sale price of the vehicle.
Can this happen?
cheers Simon
05 January 2006, 05:52 PM
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Quick look on the web and found this:
Generally, there are no formal requirements which have to be satisfied to create a binding contract (limited exceptions include contracts for the sale of land and consumer credit agreements). Consequently, a verbal contract will be binding.
The main problem with oral contracts is proving exactly what was said and agreed. Generally, it is one person's word against another's.
Unless there is documentary proof to this verbal agreement, it's the sellers word against that of the supposed buyer and would therefore be difficult to enforce if there is a dispute...
HTH....
Generally, there are no formal requirements which have to be satisfied to create a binding contract (limited exceptions include contracts for the sale of land and consumer credit agreements). Consequently, a verbal contract will be binding.
The main problem with oral contracts is proving exactly what was said and agreed. Generally, it is one person's word against another's.
Unless there is documentary proof to this verbal agreement, it's the sellers word against that of the supposed buyer and would therefore be difficult to enforce if there is a dispute...
HTH....
05 January 2006, 06:03 PM
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The private vendor is prolly just bluffing to make you buy his vehicle... I dunno how much it would cost to persue a claim on a verbal agreement - is the car worth it for him to do it??
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