Auto Loan Financing Denied: What Happens to the Car
If a vehicle is bought using financing, and the auto loan financing falls through, the buyer will have to return the car to the dealership unless other financing is secured.
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Contingencies in a Real Estate Agreement
Contingency clauses in a real estate contract are clauses put in to allow either the buyer or the seller to walk away from the real estate transaction without penalty if a particular event should happen. They act as escape clauses so that neither a buyer nor seller has to go through with a deal that has become disadvantageous. While many contingency clauses are designed to protect buyers, sellers may include contingency clauses as well.
→ Read MoreCan you get a refund on a used car if defects are found after purchase? (2024 Auto Laws)
Used cars are sold ‘as-is,’ but the seller has a duty under used car law to disclose if the car has been totaled and salvaged. Regarding other problems, though, used car purchases are buyer beware, and the buyer should carefully inspect vehicles for signs of damage and problems before purchasing.
→ Read MoreCan I change my mind after entering a contract?
If you change your mind after signing or entering a contract, there are ways to avoid your obligations. It may be difficult, but sometimes performing a contract obligation is more costly than the alternative.
→ Read MoreCan businesses refuse to accept credit cards from certain customers? (2024 Business Laws)
A credit card is not legal tender—it is merely one of many convenient ways of paying a debt. Just because a merchant accepts credit cards for payment of debts does not mean that they are compelled by law to do so.
→ Read MoreDo I have to accept a store credit if the store refund policy states that no cash refunds will be issued?
There is no law that requires a merchant to refund money, and refunds may be restricted to store refund policies, unless the product you purchased not fit for the purpose of which it was intended. Disliking a style, color, type, or anything else about the item you purchased is not the fault of the merchant and the merchant generally cannot be held responsible.
→ Read MoreWhat about contracts printed in small type on the back of forms and airline tickets?
You’ve seen the small print on the back of a sales receipt with the list of rules for refunds. In fact, many of these small print contracts will actually state that by purchasing that item, you are agreeing to the store’s terms of sale.
→ Read MoreShould a private seller accept payments over time from a potential buyer?
You need to be careful when accepting a payment schedule from someone purchasing your property. Read this article to understand the risks of partial payments, and see how you can manage them.
→ Read MoreWhat is a unilateral contract?
A unilateral contract is a contract where only one person makes a promise. A unilateral contract is distinguished from a bilateral contract, where there is a mutual exchange of promises (each party to the contract makes a promise). In order for a unilateral contract to be considered legally enforceable, the promise must be considered an offer and it must be accepted.
→ Read MoreWhat is a fixed price contract?
A fixed price contract is a contract wherein a specified amount of money is promised in order to pay for the completion of a project or task. Fixed price contracts are commonly used in building/construction situations. The contract may either have a firm fixed price or, in certain cases, an adjustable fixed price where a maximum price and/or a target price are specified.
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