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Ben Jones
Ben Jones, UK Lawyer
Category: Law
Satisfied Customers: 45301
Experience:  Qualified Solicitor - Please start your question with 'For Ben Jones'
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Selling a mobile catering business, buyer paid 40% then

Customer Question

Selling a mobile catering business, buyer paid 40% then pulled out as he didn't have money to complete, now he wants his money back . I gave him recipes, training,stockists, etc. I have had to reduce the price, still not sold as i missed the peak time and i have costs involved, can i keep his money?
Submitted: 6 months ago.
Category: Law
Expert:  Ben Jones replied 6 months ago.

Hello, my name is***** am a qualified lawyer and it is my pleasure to assist you with your question today.

Expert:  Ben Jones replied 6 months ago.

How long after paying the deposit did the buyer pull out?

Expert:  Ben Jones replied 6 months ago.

Hi there. Thank you for your request for a phone call. I am unable to talk at the moment but if you provide the information requested, I will review the relevant information and laws and get back to you as soon as I can. Please do not respond to this message after you have provided the information as it will just push your question to the back of the queue and you may experience unnecessary delays. Thank you

Ben Jones, UK Lawyer
Category: Law
Satisfied Customers: 45301
Experience: Qualified Solicitor - Please start your question with 'For Ben Jones'
Ben Jones and 3 other Law Specialists are ready to help you
Customer: replied 6 months ago.
Hello Ben, I advertised my trailer,stock and generator for 28.5K, sale was agreed at 27K. Buyer paid 1k deposit. then when he was meant to complete he said he needed a bit more time to get more money and he paid a further 10k , I then gave him recipes and training and al its of my stockists plus special prices i had negotiated. Turns out he dint have any more money and after several delays he has finally admitted he cant complete. Now he wants his money back. I have reduced unit to 21k and cant sell it as the peak festival time has now started. Plus had paid out for gas and electric safety certs . where do I stand? He agreed to buy on 11 may and I finally got the truth on 9 june that he had no more money
Customer: replied 6 months ago.
I wrote out 2 receipts, 1 for the 1k deposit which i marked as forfeited if he didn't complete, the 2nd for the other 10k which i said was a part payment. He and his 2 partners all signed both recipes as did I. He paid back for the 1k and cash for the 10k. I am stuck knot able to proceed with my business due to lack of funds but i cant sell the trailer till maybe next easter now. I feel i have missed the season and been hugely messed about. One of these 3 buyers lied to the other 2 about having the money.

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