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Alex J.
Alex J., Solicitor
Category: Law
Satisfied Customers: 3497
Experience:  Solicitors 2 years plus PQE
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I have signed a document with a company which sells businesses

Customer Question

I have signed a document with a company which sells businesses like mine. The document is to appoint them as sole selling agents and to pay them a deposit of £2000 almost immediately. I would like to change my mind. The small print of the document has a clause which states "I/We acknowledge that there is no cooling off period in respect of this contract and that I/We become bound by it upon signature"
Can you please tell me if this is legal and binding.
Many thanks.
Steve Carrigan.
Submitted: 2 years ago.
Category: Law
Expert:  Alex J. replied 2 years ago.

Alex J. :

Hi, Thank you for your question and welcome. What does the document say? Does it say you have an obligation to pay £2000 on signing or does it say subject to you paying £2000 they will become your agent?

Alex J. :

Also does the agreement have a set term for which they will be your agent and have they actually incurred any expense?

JACUSTOMER-b5k3njpu- : It says we have an obligation to pay £2000 upon signing the document.
JACUSTOMER-b5k3njpu- : the agreement says they would be sole selling agents for twelve months.
JACUSTOMER-b5k3njpu- : It says we must pay £2000 upon signing. The agreement says they will be sole selling agents for twelve months. They have incurred no expenses except the visit by the agent who assessed the business.
Alex J. :

Hi, Thank you. Is the agreement in your personal name? Kind regards AJ

JACUSTOMER-b5k3njpu- : itis in the name of me, and my brother who is my business partner
Alex J. :

Hi, Thank you. The problem is you have signed the document and there is an obligation on you to pay. You have also acknowledged that the cooling off period does not apply. However....

Alex J. :

They have not actually done any work yet and may struggle to justify the fee. I would suggest the following:

Alex J. :

Write to them and given them immediate notice that you wish to cancel the service and you request that they undertake no work on behalf of you and your brother.

Alex J. :

Say that you trust this brings the matter to an end.

Alex J. :

If they then write back demanding the money, it is entirely their prerogative whether they sue you for it. I would therefore suggest at that point you offer them a nominal sum of say £500 but without admission of any liability.

Alex J. :

If they still wont drop the issue then you will have to be prepared to consider if you want to fight the proceedings.

Alex J. :

As an alternative tactic - once you have sent them a written cancellation of the service, if they still demand the money from you, you could write them as follows (however this is a very aggressive option);

Alex J. :

1. Say that you dent any liability;

Alex J. :

2. Say that you and your brother clearly entered into the agreement as consumers without and legal advice and any attempt to remove the cooling off period is an unfair sales practice;

Alex J. :

3. Say that if they do not stop pursuing you for the money you reserve the right to contact the Office of Fair Trading and potentially deem the matter harassment under S.40 of the Administration of Justice Act 1970, which is a criminal offence;

Alex J. :

4. Say that you trust this brings the matter to a close.

Alex J. :

Again if they bring proceedings that is their prerogative and you would have to defend or settle any court claim.

Alex J. :

I would not does the contract actually contain any termination provisions?

Alex J. :

**sorry note

Alex J. :

My apologies for the typos this is all done in real time.

Expert:  Alex J. replied 2 years ago.
Hi,

Can I be of any further assistance with this?

Kind regards

AJ

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