If a new vehicle contract was signed for vehicle delivery in 2 months, can the original contract be amended at the time of delivery to reflect the increased value of the dollar to the Euro?
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If a new vehicle contract was signed for vehicle delivery in 2 months, can the original contract be amended at the time of delivery to reflect the increased value of the dollar to the Euro?
A deposit has been given to the dealership. Euro to dollar conversion has changed to benefit the buyer. I have not inquired with the dealership about this, but at time of contract signing, Euro = $1.13. As of 7/20, 1 euro = $1.08. < 60K is the current contract price.
Asked on July 20, 2015 under Business Law, Missouri
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 8 years ago | Contributor
It must be amended if some term or provision in the contract itself call for the cost to be revised in light of the exchange rate at delivery.
It may be amended otherwise only if both parties (buyer and dealer) mutually agree or consent to the change.
Without a provision requiring an adjustment to the converstion rate and/or consent of the dealership, the contract and sale price will stand as is.
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