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holding advance payment legal or not if deal does not get fixed
26-Apr-2023 (In Civil Law)
I decided to sell my used car. Had put up the ad on many paid websites. I had 4 queries who were interested. One person came forward & gave me a deposit of Rs.50K. I deleted all the ads since he gave me the deposit and informed him about the same. It has been 30 days and he has not got back with the full amount. When I called him, he says he doesnt want to go forward with the deal which has shocked me. I have to now start the whole process again of placing an ad, talking to people, showing the car and then getting to a potential buyer. Over this, the guy who gave me the advance wants it refunded. I told him that advance is not refundable. However, he has started insisting it. My question: Given the above scenario, if this goes into a legal battle, how strong is my position from a legal stand point.
there is not agreement for returning of the advance amount at the prior consent time you need need not to give the refund of the advance amount if he insists again please advice him to legal steps for recovery which can be defended upon
Helpful?
15+
15+
Adv. Innamuri Balasubramanyam
Rajahmundry | 500+ Answers
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Dear Client,
You must put terms and conditions of contract for the sale of car on web. You must put conditions like if advance paid it is not refundable and you must not delete the adds till the contract is concluded. You must sell the car for entire consideration and book for advance amount and some other portion of money will be paid later. If contract is not fruitful then you must do all a fresh. So sell the car for entire consideration at a single time but not piecemeal type. So you must sell the car at a single moment. Another issue is if he goes to a court of law you must project your case about the expenses etc., You must take expert legal advise by engaging an advocate who deals in civil cases of this nature.
You must put terms and conditions of contract for the sale of car on web. You must put conditions like if advance paid it is not refundable and you must not delete the adds till the contract is concluded. You must sell the car for entire consideration and book for advance amount and some other portion of money will be paid later. If contract is not fruitful then you must do all a fresh. So sell the car for entire consideration at a single time but not piecemeal type. So you must sell the car at a single moment. Another issue is if he goes to a court of law you must project your case about the expenses etc., You must take expert legal advise by engaging an advocate who deals in civil cases of this nature.
Helpful?
12+
12+
Adv. Sistla Rama Krishna
Vijayawada | 400+ Answers
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Hi
In the event of a buyer going back on a commitment to buy (in your case, it appears to be an oral agreement), the seller does not need to return the advance monies (booking amount) to the buyer
So you need to keep all the details of your
1) subscription to paid website
2) Enquiries received.
3) The buyer details and correspondence
4) Date of payment of booking amount and date of cancellation by the buyer( if it is oral, please write down in a piece of paper the date of payment of booking, method of payment and date of information of cancellation) and
5) Costs of identifying an alternative buyer.
Your position is strong to the extent that the booking amount need not be refunded, if the buyer has gone back on the deal.
In the event of a buyer going back on a commitment to buy (in your case, it appears to be an oral agreement), the seller does not need to return the advance monies (booking amount) to the buyer
So you need to keep all the details of your
1) subscription to paid website
2) Enquiries received.
3) The buyer details and correspondence
4) Date of payment of booking amount and date of cancellation by the buyer( if it is oral, please write down in a piece of paper the date of payment of booking, method of payment and date of information of cancellation) and
5) Costs of identifying an alternative buyer.
Your position is strong to the extent that the booking amount need not be refunded, if the buyer has gone back on the deal.
Helpful?
12+
12+
Adv. Rajagopalan
Hyderabad | 500+ Answers
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