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Yes I did sign an agreement but there is nothing in it about cancellation
This is the response from their lawyer back in November 2011.
We are in receipt of your e-mail directed to our client on the 7th October in which you claim that the Agreement is unenforceable owing to its restrictive content. You further refer to our client’s incompetence in respect of the valuation.
We write to notify you that the Agreement formed on the 29th July 2010 represents a binding Agreement. Although you have confirmed that you wish to terminate the Agreement, you will note that under our client’s terms of business, you will be responsible for settlement of our client’s professional charges which will be 15% of any monies received from National Grid.
In respect of the ‘incompetent’ valuation you will note that this has at all times been agreed with you. You confirmed your express agreement to the valuation of £760,000 to Mr Walton on the 19th July 2010. Your claims for an incompetent valuation are unsubstantiated and unfounded.
You will remain liable for our client’s professional charges. The spurious points that you have raised in your e-mail will not be capable of forming a Defence which will stand in a Court of law.
We hereby warn you that should you fail to settle our client’s professional charges then County Court proceedings will be issued against you and at which time we will seek to recover our client’s full legal costs, Court fees and interest in addition to charges.
What I agreed to was the £40k settlement but at the time I was not aware that it had been based upon a valuation of £760k.
Yes. 15% of any monies received from National Grid. But I did not accept the offer and no settlement has ever been reached.
The offer was made by telephone. I originally accepted it but rejected it when I found the valuation used
Days weeks maybe
Yes by telephone
Its bad news then I am afraid - this is because there is a legally binding contract. If the offer was made by telephone and you accepted it by telephone then at that point the contract is formed.
This means you have entered into a legally binding contract with them for the £760k at 15%.
It makes no difference whether or not they are poor, you can not cancel anytime later outside 7 days.
Therefore if it was longer than 7 days then under the law you can not cancel and you are bound.
If it went to Court and you told the Judge you tried to cancel any defence you had would fail.
Your only option would be to sue them for breach of contract in that they failed to act with all reasonable skill and care pursuant to Section 13 of the Sale and Supply of Goods And Services Act 1982.
If you can show they did not act with all reasonable skill and care then you could sue for any future losses.
But what you can not do is cancel the contract because you are legally bound.
I am sorry if this is not necessarily the answer you want and it is certainly not the one I want to give you but I have a duty to be honest.
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