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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Legal
Satisfied Customers: 111499
Experience:  JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
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I just purchaded a convience store and the fuel supplier also

Customer Question

I just purchaded a convience store and the fuel supplier also processes the credit cards and consequently holds the funds in the store and at the pump for fuel. I also was forced to take out a line of irovocable credit to cover if there are any hickups. They are holding sakes and use funds for all other products by doing this also. Is thatvlegal?
Submitted: 7 months ago.
Category: Legal
Expert:  Law Educator, Esq. replied 7 months ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
If this is part of your contract with the supplier, then yes it is legal. The parties to contracts are free to contract for whatever terms they like as long as there is no law against it. There are no laws against what they are doing here and if you signed a contract agreeing to these terms, then it is indeed permissible, even though it is inconvenient to you and perhaps even unfair to you.
Customer: replied 7 months ago.
Would itnbe illegal for me to change processors. Being they have the letter of credit
Customer: replied 7 months ago.
I know it depends on their contract but they are jolding state sales an ua e funds also. Are they not reaposable to pay those being they collected them
Expert:  Law Educator, Esq. replied 7 months ago.
Thank you for your reply.
Whether or not you can change the processors or even force them to pay those items being collected by them all depends on the terms in the contract you signed. The contract is the law of your relationship and governs what you can or cannot do with them.
Customer: replied 7 months ago.
I just purchased last week. I think i will renig on the deal and take my lumps
Customer: replied 7 months ago.
I didn't realize the current situation was holding all funds. My understanding was just funds fornduel.only
Expert:  Law Educator, Esq. replied 7 months ago.
Thank you for your reply.
You need to review the contract to make sure the penalties are something you can take if you breach the contract. Them keeping all of your funds is certainly not a fair or equitable situation to you and you need review that contract closely to see what the penalties are for breach.
Customer: replied 7 months ago.
I dont thinknproper devulgement was done
Expert:  Law Educator, Esq. replied 7 months ago.
Thank you for your reply.
If they concealed this from you then that could be a basis for seeking to get out of the contract. However, you were also liable to read the contract and understand the terms before you signed agreeing to the terms.
Customer: replied 7 months ago.
Thank you I got it now. They have to in their contract refund all money not used . They dropped Saturday ao im looking for the extra 3800 they collected above whay they dropped. Which i will reqyest today. Thank you
Expert:  Law Educator, Esq. replied 7 months ago.
Thank you for your reply.
You need to read that contract to see what you can make them pay and how long they can hold these funds before they have to release them to you.
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