Originally Posted By: 69GTX
Originally Posted By: Kira
You canceled an appointment. Nothing more.
The "nothing more" part is that the contract WAS the appointment....agreed upon by two individuals. In short, a right to have first refusal on the vehicle. And that's a right that is given a lot of weight in the business world from mergers, real estate, etc. The only way to remove that right was to have them back out, or actually see the car and waffle about it. They did neither. And if the buyer did back out, that would have been just as wrong as the seller backing out. And even "first $1200 takes it" doesn't negate this obligation.
"I emailed back and forth with a guy that seemed interested and he OFFERED me a price contingent on him coming to take a look at the vehicle and it checking out per my description."
He offered, you agreed. Contingencies and or time passing don't alter the original agreement. Case closed.
Can anyone direct me to the CFR "Craig's List" regulations? Or are they posted at the top of Craig's List pages stating that rules of US law are exempted by Craig's List cash and carry terms? Cash is the only "law."
In terms of both law and ethics in real estate, business, etc.; anything that isn't on paper never happened.
One could make the argument that the email is a binding contract of first refusal, except that the seller in this case never declared any exclusivity. Also, the buyer apparently never asked for exclusivity.
That is the clincher right there.
When a company or individual makes a claim of exclusivity on a transaction where there is question of such terms having been set, the first question that always comes up is how the transaction was secured.
This was a completely unsecured transaction, with no clear terms of exclusivity. The only way the buyer's claim could be weaker would be if he had never emailed at all.
There is not and probably never has been a property transaction in the business world where exclusivity was not established through some sort of financial guarantee; be it credit, cash, cashier's check, escrow, or otherwise.
There is zero obligation here. I and most professional people would define this as a casual negotiation, at best.
Originally Posted By: Kira
You canceled an appointment. Nothing more.
The "nothing more" part is that the contract WAS the appointment....agreed upon by two individuals. In short, a right to have first refusal on the vehicle. And that's a right that is given a lot of weight in the business world from mergers, real estate, etc. The only way to remove that right was to have them back out, or actually see the car and waffle about it. They did neither. And if the buyer did back out, that would have been just as wrong as the seller backing out. And even "first $1200 takes it" doesn't negate this obligation.
"I emailed back and forth with a guy that seemed interested and he OFFERED me a price contingent on him coming to take a look at the vehicle and it checking out per my description."
He offered, you agreed. Contingencies and or time passing don't alter the original agreement. Case closed.
Can anyone direct me to the CFR "Craig's List" regulations? Or are they posted at the top of Craig's List pages stating that rules of US law are exempted by Craig's List cash and carry terms? Cash is the only "law."
In terms of both law and ethics in real estate, business, etc.; anything that isn't on paper never happened.
One could make the argument that the email is a binding contract of first refusal, except that the seller in this case never declared any exclusivity. Also, the buyer apparently never asked for exclusivity.
That is the clincher right there.
When a company or individual makes a claim of exclusivity on a transaction where there is question of such terms having been set, the first question that always comes up is how the transaction was secured.
This was a completely unsecured transaction, with no clear terms of exclusivity. The only way the buyer's claim could be weaker would be if he had never emailed at all.
There is not and probably never has been a property transaction in the business world where exclusivity was not established through some sort of financial guarantee; be it credit, cash, cashier's check, escrow, or otherwise.
There is zero obligation here. I and most professional people would define this as a casual negotiation, at best.
