I agreed to buy a property from a seller & we both agreed on price, what the price covered i.e. fixtures. furniture, garden items etc and both agreed to proceed on that basis. However when individual solicitors had been instructed the seller had by then altered the inventory of items & the price, and his solicitor saidthat our original agreement was not legally binding despite that agreement being the very basis on which we had both agreed to proceed.... Cant be right , can it?
2006-08-20 01:27:20 · 9 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
If the agreement is signed and states that changes may be made then there is a possibility it might still be valid, but can still be argued against.
As circumstances have changed since the agreement was made, then it's validity is in question. The solicitors will know.
2006-08-20 01:33:42 · answer #1 · answered by JeffE 6 · 0⤊ 0⤋
A sales agreement is legally binding when both sides agree on the terms and when there is "consideration." If you made a deposit, a down payment, the contract should be binding. You should never trust lawyers who represent the other party. Get a legal opinion from your own lawyer.
If you have to file a law suit to enforce the contract, ask yourself if it will be worth the time and expense. It appears to me that the seller is not a person to be trusted under any circumstances.
2006-08-20 01:37:52 · answer #2 · answered by regerugged 7 · 0⤊ 0⤋
Reading your question you said it was not legally binding,I think you thought you could take the person for there word,but now days if not on paper you just lost out to all that you wanted,if the seller has already did this I would look else where for property,but all ways have things in writting,sighned, dated,and wittness, and on property I would even go the extra mile and get a notrary,this way everything is what the two partys agree on.Good Luck!
2006-08-20 01:57:12 · answer #3 · answered by cherry c 1 · 0⤊ 0⤋
If the agreement wasn't in writing, then it isn't binding. And unless you've already gotten financing and it's been paid to the seller you are not obligated to purchase the property.
You can always tell him that your financing fell through and you won't be able to buy it.
If it was in writing then show your copy of the agreement to the solicitors and this should tell them the seller is trying to break the agreement. And this could make any of the agreement null and void.
2006-08-20 01:39:54 · answer #4 · answered by Lucianna 6 · 0⤊ 0⤋
Check with your solicitor or the Citizens Advice Bureau if you're in UK - from what I remember from civil law classes, even a verbal agreement is legally binding.....
2006-08-20 01:37:12 · answer #5 · answered by Audi 5000 1 · 0⤊ 0⤋
That promissory note is a legally binding contract. So, why do not you flow to Small Claims court docket and get a judgment against the man? he will be issue to garnishment of wages or different sources via order of the court docket.
2016-11-05 05:29:09 · answer #6 · answered by ? 4 · 0⤊ 0⤋
that's why you hired your own solicitor. walk away from the deal, tell them that's not what you agreed to. Get your earnest money back if there was any. he will come after you.
2006-08-20 01:34:04 · answer #7 · answered by zocko 5 · 0⤊ 0⤋
Well, I'm not lawyer, but wouldn't he say something like that to keep you from suing his client for breech of contract? After all, lawyers only offer opinions. Why don't you see what YOUR lawyer's opinion is?
2006-08-20 01:33:04 · answer #8 · answered by Anonymous · 0⤊ 0⤋
i think it is legally binding, in equity terms that is. does the US have equity?
2006-08-20 01:32:02 · answer #9 · answered by rimrocka 3 · 0⤊ 0⤋