Sale isn't completed until money is in hand. We've all been burned by people that say they'll take it and then don't. Just part of selling items.
This is not correct. A lot of people believe this but the law says otherwise. Almost all sales are governed by contract law (and all merchandise sales that occur on this site are definitely governed by contract law), and what contract law essentially says is that as soon as both parties agree to the same terms of the sale then there is a legally binding contract in place that both parties are legally obligated to have to fulfill as agreed, and even just a verbal agreement from the parties is usually sufficient for the contract. The buyer is then obligated to have to pay as agreed etc, and the seller is obligated to have to provide the item that was agreed on in the condition and for the price that was agreed to etc.
Now if the sale was conditional on certain things happening first, then if those things don't happen then the contract may no longer be valid. An example might be "I will buy the cue for x amount to be paid to you on Saturday IF I am able to get a loan from my father in law". In that case since it was conditional there may no longer be a contract if the buyer couldn't get the loan. But if they just said "I am agreeing to buy the cue for the x dollars that we agreed on and will paypal you by Saturday" and then went on to mention where they hoped to get the money in a loan from their father in law but did not make the sale conditional on it then a legal contract is almost certainly still in place.
But in any case where there are no conditional clauses as part of the agreement, then it is clear that as soon as both parties agree to the terms of the sale there a legally binding contract in place that both parties must fulfill. If the money is not yet in the seller's hands, or the cue is not yet in the buyer's hands, it does NOT mean that there is not yet a sale or contract or legal obligation. All it means is that one or both parties have not yet fulfilled all of their legal obligations for the sale under the contract that they are legally obligated to have to honor.
Aside from there being a legally binding obligation once both parties have agreed to a sale, I'd argue that there is also a moral and ethical obligation as well but fortunately we don't all have to agree on that since the legal obligation already clearly covers things.
Lol...good luck trying to enforce that one.
This is not correct....
It's the law and is easy to enforce the same way every other law in the land is enforced, in a court. Now whether you want to pursue it or not is up to you, but if you do the law is pretty clear on it and it is easily enforceable.
Ah.... Technically Yes it is, partially at least. You were so hyped up to get all "legal" on em' that you didn't even read the post you're commenting too clearly... A sale is only COMPLETED when both party's have received their part of the deal.
He didn't say a sale is only "binding"... That's what you're referring to.... I know I'm getting picky but so were you..:wink:
Ok, the 3 day grace period would apply too.
Hilarious to watch some of the dumpers get smacked with that one.
I believe that the 3 day grace period to back out of purchase agreements actually only applies in very limited circumstances. It doesn't apply at all to online transactions to my understanding. Perhaps there is something that I am unaware of that you are referring to.
I was addressing what I felt his clear inference was, which is that he was saying no obligation can be expected until such point that the transaction is fully completed. This isn't the case, and I thought I drew the distinction pretty well in my post between when the legal contract is actually formed and when the transaction is considered complete, albeit not with identical terminology but still correct terminology none the less. I think you are arguing semantics on this one. :thumbup:
It's the law and is easy to enforce the same way every other law in the land is enforced, in a court. Now whether you want to pursue it or not is up to you, but if you do the law is pretty clear on it and it is easily enforceable.
Ok well just to fair, I read his comment as he was more referring to the mistake the OP made by purchasing the mailing label without getting his money first.. So who is right? My point was I went by what as written and not "inferred" or assumed.. You know what happens to those who ass-u-me right..lol :wink:
Skins ------------ reads waaay to many contracts..
Law or no law in real life what you are saying is never gonna actually realistically happen. Like cubswin said it's all part of trying to sell something via a forum, etc. where you never even see the other person. Is anyone really gonna spend more on attorney's fees and court costs and all the associated hassle than what the item for sale is worth?