Legal Question in Business Law in Virginia

Harry signs a written agreement to buy a car from Tom. Tom signs too.
Harry will pay $10,000 on Monday. Tom will deliver the car on tuesday.
Harry pays , but before Tom can deliver the car, it's accidently destroyed by a fire!
Harry doesn't know it, but Tom stold the car and altered the title. Tom doesn't know that Harry is 17 years old.
there are three (3) ISSUES here. What are they?

Asked on 2/03/10, 9:17 pm

Paul B. Ward Law Offices of Paul B. Ward

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0 attorneys agreed

Harry is not old enough to be bound by the contract.

Tom is selling stolen property, which belongs to the person he stole it from.

Tom knows he stole the property so he is commiting fraud on Harry.

The rightful owner may have had insurance on the car, and the insurance company may or may not have paid the owner for the theft.

Tom may have gotten insurance on the car, though it's doubtful the insurance company would pay if informed he was not the rightful owner.

Harry may be able to stop payment on the check.

There are probably other issues.

Answered on 2/10/10, 7:00 am

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