I went to a boat dealership to purchase a boat. They made the deal taking in two boats as trade. After paperwork and signed contracts along with a deposit, they call me the day before the pickup and tell me they do not want to take one of the boats and want more money. Can this be okay for them to do since the contracts are already done, signed, and ready for us to pick up the other boat now?
2 Answers from Attorneys
No. You should insist on the other party to proceed with the terms of the contract, unless there are bonafide claims of fraud or misrepresentation inducing the defaulting party to enter into contract. You may proceed to court and request specific performance; we call an "action in equity" in legalese.
I think Mr. Kashanian is a little too quick with his answer. It really depends on the language in the contract. An attorney would have to read the contract before giving an answer as to yes or no.
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