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LawTalk
LawTalk, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 36987
Experience:  I have more than 25 years experience in the legal profession.
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I put my boat on consignment to take no less than $12000.

Customer Question

I put my boat on consignment to take no less than $12000. Boat sales company said they have a buyer for $12200. They asked if I would take $10000 instead so they can make a little off this since they don't charge commission, I said ...ok...boat sold and they gave me $8000 instead of $10000. They said I agreed to $8000 which is faults. Can't have any money at all until I give them the Title. Only contract signed was that I get $12000 but I verbally agreed to $10000 if sold at $12200. Do they have the right to keep more money or hold any money if they don't get the title from me? This would give them a 35% commission in stead 18% commission I verbally agreed to.
Submitted: 10 months ago.
Category: Consumer Protection Law
Expert:  LawTalk replied 10 months ago.

Good morning Larry,

I'm Doug, and I'm very sorry to hear of your situation. My goal is to provide you with excellent service today.

If your written contract says that you will accept no less than $12,000 for your boat, and you orally agreed to accept $10,000 cash if they sold it for $12,200, then you may insist that they pay you at a minimum the $10,000 that you verbally agreed to.

You will also want to look at the original consignment contract that you signed and see if there is a clause requiring any modification of the agreement to be in writing. If that is in the written contract, then technically you can refuse to even accept the $10,000 and demand the full $12,000.

They have no legal basis to keep any more money than you agreed to, and the worst case scenario leaves you with $10,000 and if the written contract does require modifications to be in writing---then you have negotiating leverage and could legally hold out for the full $12,000.

You may reply back to me using the Reply link and I will be happy to continue to assist you until I am able to address your concerns, to your satisfaction.

I hope that I have been able to fully answer your question. As I am not an employee of JustAnswer, please be so kind as to rate my service to you. That is the only way I am compensated for assisting you. Thank you in advance.

I wish you and yours the best in 2016,

Doug

Expert:  LawTalk replied 10 months ago.

Hi Larry,

This seems like a very crucial matter for you, and your questions and issues suggest that an in-depth conversation might best suit your needs. If you are interested, for a very nominal charge I can offer you a private phone conference as opposed to continuing in this question and answer thread which is searchable and viewable by the public.

If I have already provided you with the information you asked for, would you please now rate my service to you so I can be compensated for assisting you?

Thanks in advance,

Doug