Consumer Protection Law
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Hi and welcome to JA. Ray here to help you today.
I suggest you return his funds here.You tell him he breached the contract by not paying, you resold it and you are returning his balance.Since there was no time limit the best thing to do is refund the money and claim there was default.Here it is not really a problem if you claim he breached and terminate the arrangement based on his breach.I would strongly consider returning his half payment and closing it out this way since you cannot deliver the truck as it has been resold.
I appreciate the chance to help you today.Thanks again.
There is no time agreement so I would try to resolve this matter by returning at least part of the funds.If you had to sell it for less maybe you keep what makes you whole here and refund the rest.
And it is your option here about what amount to return or to return anything..