Quote:
Originally Posted by Fred
Straight forward scenario/question:
Seller has item for sale in BST.
Buyer A makes the offer to pay asking price and agrees to all ship methods, etc.
Seller sends confirmation the item is sold to Buyer A.
A couple hours later, the seller receives correspondence indicating Buyer B is interested and seller tells Buyer B, "sorry, it's sold". Buyer B ups the offer by 20%. Seller decides they'd want more cash and will take the offer.
QUESTION - How would you feel as Buyer A? I read what the lawyers are writing and the word "contract" comes up. Is there really a legally binding contract based on a couple emails?
In my book, the seller's a butthead for backing out for any reason. I wouldn't pursue it further, just avoid the seller. I wouldn't create a post indicating the seller's a butthead, but fact is, the seller is a butthead if they renege on a deal (for just about any reason). Yes, it's the sellers item and prerogative to do whatever they choose, but if you have an agreement, honor it.
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Agreement is offer and acceptance. That is a binding contract. A couple emails is more than sufficient evidence that a contract exists. Seller backs out after agreeing to the buyer's offer, it's a breach of that contract. That is different than the scenario in this thread, where the seller never agrees to sell to the buyer.