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What happens if you contract to buy a car and the seller sells it to someone else for a higher price?
Wiki User
∙ 15y ago
Depends on the contract. Check to see what penalties are listed for defaults.
Wiki User
∙ 15y ago
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What happens if Seller dies after signing contract?
If a seller dies after signing a contract then the contract is terminated. In the case of real estate the property may go to the state, a bank, or the trustee of the will.
What are the dangers of selling house on contract?
If a seller and a buyer have already signed a contract, then you have to sell according to the contract. If you want to sell to someone else not on the contract, then you have to get out of the first contract.
Can a seller back out of a sale of a home and sell it to someone else if a binder has already been signed?
Define a "binder." If the 'binder' is a contract to purchase, then the seller has breached the contract, and can be sued for damages for non-performance.
What if someone stops paying in a contract to purchase a mobile home from a private seller?
If a contract was signed, then they need to be taken to court for the amount owed.
What happens when financing for an auotmobile falls through and you have already driven the vehicle for a week?
In most states, when you sign an automobile purchase contract there is a line on the contract that requires signing that is usually titled "Notice of Rescission Rights" that basically gives the seller the right to rescind the the contract if the seller is unable to assign the contract to a financial institution. However, the seller must give you notice of there intent to rescind within 10 days or the seller may forfeit their rescission rights.
How would one describe a land contract?
A land contract is a contract between seller and buyer of property. A contract is only made when an agreement between seller and buyer has been reached. The seller becomes the land owner only when the full payment has been made.
If buyer requests a release from contract can seller choose to enforce the contract?
A contract, if properly drafted, is enforceable. If the buyer requests a release the seller can negotiate or keep the deposit.
Which statement about contracts is correct?
The correct statement about contract is that a contract is an agreement between a buyer and a seller. A contract can be a written or oral agreement.
How much interest can a seller charge on land contract?
A seller can charge whatever interest they wish on a land contract. The buyer doesn't have to sign a contract if they don't agree with the terms.
What is the definition of a retail seller?
A retail seller is someone who marks up goods and products from wholesale prices and makes them retail (or higher) prices. A retail seller is usually a physical store but can be an internet store as well.
If a seller in contract agrees to pay all taxes until sale can they make buyer pay taxes instead?
No. The seller must honor the contract.
What happens when a person dies while selling their house?
If the decedent has signed a binding contract to sell the house, then his or her estate must abide by it and sell the house according to the terms of the contract. The executor has no power to simply cancel the contract nor is the contract automatically cancelled by the death of the seller.
