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Topic # 120964 19-Jun-2013 18:39
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All your advise and thoughts on the below matter will be greatly appreciated. Been very stressful for the last couple of nights.

Basically i own a number plate, i have been in correspondence with a potential buyer. We txted each other and i did txt back saying I am happy with the number plate for $xx plus one of his number plates. He txted back saying email me with your bank details and so i can send you a sale and purchase agreement. I gave him my email address. I txt back to him saying i am away and will be back in 2 weeks times, send the forms to my email address and i will fill it out.

Now i decided not tell it and wish to keep it in the family.

He txt back saying if i don't get this matter concluded he will take legal action and said if forced to, i will sue you for specific performance to ensure you comply with the terms of the agreement and that will be costly for me.

I have not been replying to his email and txts.

Here are some of he emails he wrote me:

I'd like to conclude the deal this week, as I've borrowed the balance and have all the $xx sitting here now.
My lawyer has drawn up a proper Sale & Purchase agreement also, to properly record the transaction for Personalised Plates records.


for whatever reason, I don't mind waiting till you return to complete the transaction, but to be clear, the binding Agreement for Sale and Purchase we reached via our detailed text message correspondence on 07 May states the final terms of that agreement.
Specifically, that the consideration for your plate xx is the sum of $xxx in cash, together with entitlement to the plate xx.


I would therefore like your confirmation by email, so that I have something from which to make a hard copy, that the terms of the agreement reached are as I have stated.
The Agreement has already been reached, but I need to have it securely recorded for my file.


Hi XX

Sale and Purchase agreement for the plates XX and XX.

I confirm I will pay the sum of $XXX in cash for the plate X.
I will also transfer ownership of the plate XX to complete the purchase.

Please advise your bank account details and I will deposit $XX now, and $XX as soon as I receive those funds.

I will arrange to borrow the remaining $XX to complete the transaction.

I will now transfer ownership of the plate XX to you, but require a physical address to complete the transfer form.

Please confirm that the terms as stated above correctly record our agreement.

Regards

Are you back from your trip yet?

I'd like to conclude the deal this week, as I've borrowed the balance and have all the $xxx sitting here now.
My lawyer has drawn up a proper Sale & Purchase agreement also, to properly record the transaction for Personalised Plates records.

Please advise.

Regards

XX, as per the mail below and the text sent to you earlier today.
My frustration at your ignoring my communications has caused me to seek clarification of the position with my litigation adviser at XXXX

The position is crystal clear, in that the written communications we've had via texts and emails has clearly established an agreement for sale and purchase of the plate "X"
Whether you are experiencing "sellers remorse" or whatever the case may be, is of no consequence here.

After numerous texts over several days, bargaining over the terms of the deal, you have entered into a binding legal agreement to trade the plate for " XX and $XX
I have made the necessary arrangements to fulfill my obligations, by selling a Ducati motorcycle and raising a loan for the balance required to settle with you.

My lawyer is drafting a notice to you today, outlining the position in legal terms.
I am putting you on notice at this point that should you attempt to withdraw from the deal, or seek to dispose of the plate " X" to any other person, I will without hesitation file a claim in the District Court, seeking specific performance.
The full legal costs of any such action will therefore be claimed against you.

XX, we have been communicating over a period of more than two years now, since you first messaged me, and I have always been courteous and replied to your questions about the property and plate markets.
We have now entered into a business arrangement where you have agreed to sell, and I have agreed to buy, the Personalised Plate "X ".

All that I require of you is that you honour the commitment you've made. Nothing more, nothing less.
I really do regret the need to have to write to you in such harsh words, but should you renege on the agreement reached, you will leave me with no option than to pursue performance of this deal in the Courts.




I have not taken any money nor reply back to any emails expect one stating that i will need to put this on hold until i get back from my holiday.

Do i need to commit and sell my number plate to him? or should i keep on ignoring him?

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  Reply # 839712 19-Jun-2013 18:48
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Point 1 - ask a lawyer about legal matters, not Geekzone. Point 2 - if the agreement said you were going to be paid, and you haven't been paid, then it doesn't sound like you need to do anything other than say you've changed your mind. Whether or not he borrowed money is not your problem, and frankly if he had to borrow money to buy number plates he isn't going to be able to afford to sue you.

Just tell him once and for all you have decided not to go ahead with the sale, and you're done.




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These comments are my own and do not represent the opinions of 2degrees.


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  Reply # 839715 19-Jun-2013 18:49
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Well, even verbal contracts are binding. But really, he is gong to sue you over a number plate? Sounds like he is just trying to scare you by involving lawyers. Just how much are we talking here??

 
 
 
 


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  Reply # 839716 19-Jun-2013 18:52
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If you've entered into a verbal agreement via SMS to you could well be liable. Right now you should clearly be in contact with a lawyer to discuss your options, it's pretty much irrevelent what anybody on here says.



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Geek


  Reply # 839717 19-Jun-2013 18:53
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Thanks for the quick replies.

We are talking about $XX'XXX's here. 

Just a simple e-mail saying: I have come to a conclusion that i do not want to process ahead in selling the number plate to you. It has sentiment value to me and my family.

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  Reply # 839721 19-Jun-2013 18:59
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1. Consult a good lawyer. Accept you will have to pay for this. Follow their advice scrupulously.

2. Give him the contact details for this lawyer, and ask that all correspondence on the matter be directed there (which should stop him cold if it's just bluster)

3. Don't rely on legal advice from GZ, or anyone who isn't a lawyer.

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  Reply # 839723 19-Jun-2013 19:01
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BaaaaD: Thanks for the quick replies.

We are talking about $XX'XXX's here. 

Just a simple e-mail saying: I have come to a conclusion that i do not want to process ahead in selling the number plate to you. It has sentiment value to me and my family.

Ok, tens of thousands, then I think it is pretty serious. Definitely you need a lawyer.

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  Reply # 839730 19-Jun-2013 19:11
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Leave the country on the next available flight.




Whatifthespacekeyhadneverbeeninvented?


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  Reply # 839732 19-Jun-2013 19:12
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As it is a big amount involved you definately need a lawyer. Don't take any advise from anyone who is not a lawyer. 

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  Reply # 839734 19-Jun-2013 19:13
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Let them make the first move?

Why waste money on a lawyer if he's bluffing..

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  Reply # 839736 19-Jun-2013 19:15
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If you can't afford a lawyer you should contact your local Citizens Advice Bureau immediately for some basic legal advice.

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Reply # 839737 19-Jun-2013 19:15
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JamesL: Let them make the first move?

Why waste money on a lawyer if he's bluffing..


+1

Say OK then I am happy for your lawyer to contact me, Sit back and wait



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  Reply # 839738 19-Jun-2013 19:17
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JohnR - but will i need to pay all the fees from his lawyer?


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  Reply # 839742 19-Jun-2013 19:21
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How much money, ballpark, are we talking here?

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  Reply # 839743 19-Jun-2013 19:24
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BaaaaD: JohnR - but will i need to pay all the fees from his lawyer?



Potentially, if you lost in court, you could be ordered to be pay all or some of their costs

Likewise if you won, he could have to pay all or some of yours



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Geek


  Reply # 839747 19-Jun-2013 19:27
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We are talking about $XX,XXX'S

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