Legal Question in Consumer Law in California

Rescinding a private party car sale
Was selling my car and had received 3 verbal offers which I
accepted. None of the buyers delivered, however. I verbally
accepted a 4th offer. I did not receive a deposit for any
amount, but arranged w/ the buyer to have full funds wired to
my bank to payoff my existing loan (I was to cover the balance
seeing my loan was greater than the amount). The following
day I was contacted by another potential buyer. I informed
them of the circumstances, but allowed them to inspect the car
(in case the the previous buyer yet again would bail). Upon
test driving the car, the last individual offered me $750 more
than the previous individual. I tried to contact the first person
to notify him to cancel the wire, since he had emailed me
saying instructions had been sent to his bank. Not sure if they
would get back to me, and knowing his bank was on the east
coast, I notified my bank not to accept the funds and return
them (this is what occured). I reimbursed the first person $40
in wire fees, and I added $10 for faxes/ld calls/etc. But he was
very angry and threatend to sue (for lost time, etc.). Does he
have the right? Where was our contract? And what would my
recourse be if he had bailed on me?

Asked on 10/05/02, 7:44 pm

Alvin Tenner Law Office of Alvin G. Tenner

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Re: Rescinding a private party car sale

You can be liable for the contract as you had one and you broke it.

Answered on 10/06/02, 2:18 pm

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