Legal Question in Business Law in Mississippi

Contract Law

If you accept a merchants offer of a retail installment contract for an automobile at the dealerships location and merchant doesn't provide the buyer with a copy of the contract can the merchant be liable for breach of contract. What remedy can the acceptor of the contract have in this situation?

Asked on 12/11/04, 9:59 pm

1 Answer from Attorneys

Albert Pettigrew Law Offices Ph 228-875-8736

Re: Contract Law

The Truth in Lending Act could give the buyer the right to rescind and defenses against collection by the acceptor. Also the acceptor could have an action against the seller for recision of the agreement, negligent or intentional misrepresentation or breach of contract. Intentional misrepresentation has a one-year statute of limitations. The others have three year limitations.

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Answered on 12/16/04, 7:16 am

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