Legal Question in Business Law in New York
A dealership in Indiana finds a vehicle it would like to purchase on autotrader.com The seller is in NY state. After talking on the phone with the seller, the buyer sends a wire transfer to the sellers bank for $17,000. The buyer speaks with the credit union and tells them what is going on. Now its a week later, and the dealership cannot get ahold of the seller. There was no receipt or contract. This was a verbal contract agreed to over the phone. What recourse does the dealership have to get the vehicle or the money back??
1 Answer from Attorneys
I presume that the seller obtained the $17,000 from the bank, and now just got lost.
The buyer/dealership can commence an action against the seller for fraud, and breach of contract.
He may be able to start a criminal action against the seller for grand larceny.
It is a lesson to be learned, have everything in writing, and hand over the money at the same time that the seller gives you possession of the car and the title.(ps- make certain that the title is clear)
Jeffrey A. Lazroe, Attorney at Law, 37 Franklin Street, Buffalo, New York 14202
1-716-856-8811
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