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Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 33791
Experience:  15 years real estate, Realtor. Landlord 26 years
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Seller was fast talked into selling antique tractor

Customer Question

Seller was fast talked into selling antique tractor collection. Seller did not sign contract but accepted payment in form of a check. Check was not cashed. Ck was 34k on a collection worth at least twice that much.
Assistant: Thanks. Can you give me any more details about your issue?
Customer: Does the cooling off period apply? Seller called in 24 hours to change his mind.
Submitted: 14 days ago.
Category: Real Estate Law
Expert:  Barrister replied 14 days ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply, but rest assured, I am working on your question.

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Does the check state anything in the memo line like "full payment" or anything similar?

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Were there any witnesses to the verbal agreement?

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Did seller rip up the check or return it?

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thanks

Barrister

Customer: replied 14 days ago.
Check was not cashed. Nothing noted on check. No witnesses.
Customer: replied 14 days ago.
I cannot call. We will need to do this via this forum.
Expert:  Barrister replied 14 days ago.

Ok, from a purely legal perspective the oral contract is legally binding once the agreement was made and at least one party performed under the contract by tendering the money..

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But it might be difficult to enforce if there are no witnesses and the seller said that the check was only a partial payment or that there was no check at all if they destroyed it.

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thanks

Barrister

Customer: replied 14 days ago.
Why doesn't the 72 hour rule apply?
Expert:  Barrister replied 14 days ago.

Because there is no statutory 72 hour rule that applies to all contractual situations... That is a myth.. There is a statutory 3 day right to rescind only in very limited situations like with health clubs, door to door home improvement contracts, and condo sales.

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An agreement to sell or buy personal property never has a right to rescind unless there is a written contract that specifically states so.

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thanks

Barrister

Customer: replied 14 days ago.
there was no written contract at all. So why can't transaction be nullified?
Customer: replied 14 days ago.
The guy fast talked a 77 yr old man. Took total advantage of him.
Expert:  Barrister replied 14 days ago.

Because under the law, an oral contract is legally binding if there is an offer (i.e. I wil give you $34K for tractors) an acceptance (i.e. ok, I agree) and performance by at least one party (i.e. buyer gives a check for payment).

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But the seller can always claim that there never was a deal, or that they never got a check, or that the check was only partial payment and there is no way to prove a deal because the buyer doesn't have a cancelled check and there were no witnesses.

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The buyer would have to sue the seller in court and prove to a judge that there was a deal that the seller won't honor.

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But the fact that the buyer convinced the seller to sell doesn't make it voidable.. Car salesman fast talk people every day and those deals are completely enforceable. It is the seller's duty to not agree to something if they don't want to sell. Cold feet isn't a legal excuse to get out of a contact.

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thanks

Barrister

Customer: replied 14 days ago.
Ok thanks.
Expert:  Barrister replied 14 days ago.

You are very welcome. Happy to help any time.

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It was my pleasure to work with you and help with your question. If you ever need me in the future, you can post a new question with "For Barrister" in the caption and the JustAnswer employees will get it to me.

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If you feel your original question and any related follow ups have been answered, I would very much appreciate a positive rating by clicking on the stars, smiley faces, or numbers on your screen as that is the only way I receive credit for my work.

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Thanks much

Barrister

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