Part exchange rejected, can I get my deposit back?
A main car dealer offered me a price for my current car in part exchange for a new vehicle.
We subsequently agreed a sale and I left a good deposit.
Paperwork was to be signed upon collection of the new vehicle a few days later. The day after he phoned me to say he now didn't want my part exchange as the third party (another dealer presumably) that had made him an offer for the car had now withdrawn from the sale.
Where do I stand legally? As far as I'm concerned we made a binding verbal contract and he accepted my deposit.
We subsequently agreed a sale and I left a good deposit.
Paperwork was to be signed upon collection of the new vehicle a few days later. The day after he phoned me to say he now didn't want my part exchange as the third party (another dealer presumably) that had made him an offer for the car had now withdrawn from the sale.
Where do I stand legally? As far as I'm concerned we made a binding verbal contract and he accepted my deposit.
Asked on 11 December 2011 by tas
Answered by
Honest John
In law you have a contract because there was 'consideration' in the form of your deposit.
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