New (old addition to the family - revisited (NEED OPINIONS) Long

[Kent McLean]

Tom Donohue wrote:
>Hello...I am an attorney and I concur completely with Michael's outline
>and plan of action.
>
>Michael Riebs / Audi V8 wrote:
>>It is my understanding that a contract is made binding as follows:
>>Offer + acceptance + consideration (payment) + acceptance of payment =
>>binding contract.

I'm not a lawyer, but from the law classes I have taken and my real
life experience, it is my understanding that:

a) offer (e.g. car for $1000) + acceptance of offer = binding contract

b) exchange of goods (car) for consideration ($1000) = execution of contract

Item (a) can be oral or written. Written is required for certain transactions
(e.g., real estate). In this case, the offer and acceptance are written, which
is always a good thing.

Given the facts as stated, there was an offer and acceptance making
a binding contract.  However, the consideration has been refused. In
light of this, the buyer can go to court to seek execution of the contract;
that is, force the seller to deliver the car and title in exchange for the
money.  Although the results might be in favor of the buyer, the cost
(court fees, attorney fees) might not be. That's why they have small
claims court.

Even so, a threat of court action, and the possibility of losing the fight,
and the added possibility of having to pay the buyer's attorney's fees
and court fees might make the seller perform. But he may also take
the chance that the buyer won't spend the time and money and go
through the hassle for a 20 year old car.

him $2000 to find
a

If the seller does renege on the contract, and sells it to buyer 2, and
buyer 1 finds and buys a similar car for $2000, he can sue seller 1 for
$1000 (the difference in the price agreed to and what it costs him to
buy the other car).  Once again, this action may not be financially viable,
even with a "win."

HTH,
Kent
'89 200 TQ, "Bad Puppy"