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Ben Jones
Ben Jones, UK Lawyer
Category: Law
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Experience:  Qualified Solicitor - Please start your question with 'For Ben Jones'
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A vehicle dealer phoned me and offered to buy the vehicle I

Resolved Question:

A vehicle dealer phoned me and offered to buy the vehicle I have advertised for sale, and as I had had little response so far I reluctantly agreed to his offer. He asked for my bank details to send through a deposit, which he did later that day. In the evening a private buyer phoned and was very keen, and so the next morning when the dealer phoned I explained the situation and asked if he would hold off until the other party had seen the vehicle. He said that I could not do that as I had already
sold it to him and so it was not mine to sell. In a case such as this am I entitled to a cooling off period so that I may withdraw from the sale?
Submitted: 1 year ago.
Category: Law
Expert:  Ben Jones replied 1 year ago.
Hello, my name is ***** ***** it is my pleasure to assist you with your question today.
Generally, when a person places an order for something and pays a deposit they enter into a legally enforceable contract with the seller. It is implied that the seller has accepted the deposit as security and as proof that the buyer wants to proceed with the contract.
Unless the buyer subsequently commits a serious breach of contract, or there was a cancellation clause, the seller would have no legal right to cancel the agreement and if they do so they will be acting in breach of contract. There is no automatic cooling off period unfortunately and once a contract has been agreed (this can be done verbally and through the parties’ actions such as when there was an offer, an acceptance and consideration such as the deposit).
If you had decided to proceed with the sale to the private buyer then there may be little the dealer can do to stop that and keep the car but they may instead pursue you for any losses they have incurred as a result, such as the profit they may have made from selling the vehicle on. As that would be a speculative amount it would depend on what an average vehicle of that make, model and age and condition would be expected to fetch in the circumstances. Whether the dealer actually goes as far as going to court to claim that is impossible to predict and only they know whether it will happen but it is a risk to be aware of.
I hope this has answered your query. Please take a second to leave a positive rating, or if you need me to clarify anything before you go - please get back to me and I will assist further as best as I can. Thank you
Ben Jones, UK Lawyer
Category: Law
Satisfied Customers: 45327
Experience: Qualified Solicitor - Please start your question with 'For Ben Jones'
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