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Good evening. You can get out of this contract. A seller isobligated to disclose anything the seller knows or should have known that areasonable buyer would consider material in making the decision whether or notto buy the car. Having been in an accident would qualifyas something that a reasonable buyer would consider significant. In such asituation, a buyer does have recourse. If a seller is not willing to remedy the situation by rescinding the entire transaction and refunding thebuyer's money, the buyer can file a claim not only as a breach of contractcase, but also as a deceptive trade practice action, which will entitle thebuyer not only to actual damages, but also an additional amount equal to 3times that as punitive damages. That typically provides plenty of incentive forthe seller to settle this on the buyer's demands rather than to face thepossibility of these punitive damages; but, if it does not, the buyer has theright to file the suit.
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Sorry..but my question was mainly to do with the mandatory arbitration form i signed, which prevents one from being able to sue as they normally would be able to do.
First, the mandatory arbitration clause is not likely to be enforced due to the fact that the seller engaged in a deceptive trade practice giving you the right to rescind the entire transaction including deeming the contract itself null and void. Second, if you did decide to go to mandatory arbitration, your cause of action would be the same....fraud and deceptive trade practice giving you the right to force the buyer to take the car back and refund your money...the law is the same, it's just that an arbitrator makes the ruling rather than a judge.
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