tmracing62
07-26-2004, 02:24 AM
I have mixed feelings about the way the legal system actually works and consider it a last resort. However a person that bought a car from me two years ago convinced me to let him have it before he'd paid in full and I did other things to make it as easy as possible for him. When I discovered he had been lying about his ability to pay (he has more than enough money) and that he had told someone he did not intend to, I had him served. Now to me, that's just business when the other party has failed to fulfill without cause. It is not punitive or arrogant and like I said, a last resort to put someone on notice. He has gone ballistic and it is very ugly. It is consuming an incredible amount of time that I don't have, but I tend to be prepared and on judgment day, he's getting a faceful he never expected.
Learn from my mistakes. If you are selling something valuable - meaning you don't intend or can't afford to forfeit it - then use a formal and legally binding agreement. A friendly little bill of sale is meaningless. No matter how good a friend they may be, no matter how heartwrenching their tale or how wonderful you think they are, get into a legally binding agreement. This is not as unfriendly as you might think. For instance, they get run over and if you don't have the paperwork, you may not be considered in the estate settlement. Their wife freaks and tells him not to pay you, putting him in the middle. The list is long, but you get the point. You can get forms at an office supply store and can cross out or add whatever you need. You don't necessarily need an attorney.
For the same reasons, don't let it go without getting paid unless you have specified a payment schedule. You can always amend it if circumstances change. Both sign for every payment and document any changes to any part of the agreement.
These things protect both of you and if they think you are being unfriendly, explain and if they are upset maybe they are not the best person to sell to.
Having been an expert witness many times and involved in criminal and civil trials as a witness and as a court observer, it is an appalling, disgusting stage play. The very last thing that happens in court is justice. The last thing you will hear is truth. Or at least the complete truth. Usually everybody knows the truth and the spirit and intentions of the parties. But the game is to play with the words to see who can get away with what. Never expect things to be as you think they will be. The time taken to start out with the proper documentation will really pay off, mostly by avoiding a legal battle altogether or at least minimizing interpretations and doubt.
Something to think about anyway.
Learn from my mistakes. If you are selling something valuable - meaning you don't intend or can't afford to forfeit it - then use a formal and legally binding agreement. A friendly little bill of sale is meaningless. No matter how good a friend they may be, no matter how heartwrenching their tale or how wonderful you think they are, get into a legally binding agreement. This is not as unfriendly as you might think. For instance, they get run over and if you don't have the paperwork, you may not be considered in the estate settlement. Their wife freaks and tells him not to pay you, putting him in the middle. The list is long, but you get the point. You can get forms at an office supply store and can cross out or add whatever you need. You don't necessarily need an attorney.
For the same reasons, don't let it go without getting paid unless you have specified a payment schedule. You can always amend it if circumstances change. Both sign for every payment and document any changes to any part of the agreement.
These things protect both of you and if they think you are being unfriendly, explain and if they are upset maybe they are not the best person to sell to.
Having been an expert witness many times and involved in criminal and civil trials as a witness and as a court observer, it is an appalling, disgusting stage play. The very last thing that happens in court is justice. The last thing you will hear is truth. Or at least the complete truth. Usually everybody knows the truth and the spirit and intentions of the parties. But the game is to play with the words to see who can get away with what. Never expect things to be as you think they will be. The time taken to start out with the proper documentation will really pay off, mostly by avoiding a legal battle altogether or at least minimizing interpretations and doubt.
Something to think about anyway.