Reneging on a sale

[TheLegendaryJP]

Beachie, I had the same same circustance...

I sued, court said recover loss no more. Basically hard to legally hold them accountable, infact very unlikely. John may have examples where it has but in the domain biz ????

 

[NameGuy]

Yours wasn't the highest offer.

No argument. No sour grapes. Just pointing out that misunderstandings can occur on either side.

 

[DomainsInc]

Good luck trying to get a judge to agree that sending an offer via email is a binding contract. This seems to happen all the time. Why doesn't sedo legally go after alll these deadbeat buyers who constantly waste peoples time? You have a much bigger chance of a deal falling through via sedo than here through pm's and emails in my opinion.

Also, have a little compassion. While you might have lots of money to throw around there are people selling their cars and putting every last cent towards domains in a dream to make it to where you are and sometimes people bite off more than they can chew.

 

[Focus]

Also, have a little compassion. While you might have lots of money to throw around there are people selling their cars and putting every last cent towards domains in a dream to make it to where you are and sometimes people bite off more than they can chew.

Compassion? For someone backing out of a deal when they were the seller?
It's not like they did'nt have the money to BUY, he was buying.

And for the throwing around lots of money comment...please don't pretend to know other people's finances or situation, many of us have busted our asses to get a few extra dollars to buy more domains and even be able to offer someone xx,xxx for a name in a speculative investment. Also, many times it's an investor's or partner's money...so when someone backs out of a confirmed deal it's a frickin' mess and it can cause alot more damage then you think, not to mention make you look very bad and unprofessional to your backers if any...maybe you should have some compassion for Beachie. :yes:

 

[DomainingCom]

My opinion is different.

If you do not have a sale contract SIGNED then you don't have ANYTHING.
Otherwise why companies ask you to SIGN and FAX agrements when you make a deal?
It's too easy to create false emails!
Or I could create one saying you decided to buy me Stupidity.com for only $5.00 and force you to act.

Trust me I understand your frustration Beachie, and I am really sorry.
Most we had similar experiences and even worst, this is why it's so important to use escrow services and also have a sale contract signed and faxed before proceed.

Also, unfortunately you will not stop anyone acting like that, most will never hear about this story.
So it's not a lesson for anyone, except few domainers that already know what are the fair practices.

Just say haaaaaaaaaaaaaaaaaaaaaaaaaaaa! to feel better and think you will recover your expenses with a better deal next time.

...

 

[DomainsInc]

Compassion? For someone backing out of a deal when they were the seller?
It's not like they did'nt have the money to BUY, he was buying.

And for the throwing around lots of money comment...please don't pretend to know other people's finances or situation, many of us have busted our asses to get a few extra dollars to buy more domains and even be able to offer someone xx,xxx for a name in a speculative investment. Also, many times it's an investor's or partner's money...so when someone backs out of a confirmed deal it's a frickin' mess and it can cause alot more damage then you think, not to mention make you look very bad and unprofessional to your backers if any...maybe you should have some compassion for Beachie. :yes:

Ah, its too early. I didnt' realize Beachie was the one buying. And i don't often assume peoples financial situations but when you say you have mid xx,xxx to spend to just make an example of someone, i'd say you're doing ok.

This domain game is a hard one, if you want to make a good living out of it. I feel bad for the guys constantly trying to sell domains for 50 bucks here or 200 bucks there, they don't stand a chance.

 

[petrosc]

My opinion is different.

If you do not have a sale contract SIGNED then you don't have ANYTHING.
Otherwise why companies ask you to SIGN and FAX agrements when you make a deal?
It's too easy to create false emails!
Or I could create one saying you decided to buy me Stupidity.com for only $5.00 and force you to act.

Trust me I understand your frustration Beachie, and I am really sorry.
Most we had similar experiences and even worst, this is why it's so important to use escrow services and also have a sale contract signed and faxed before proceed.

Also, unfortunately you will not stop anyone acting like that, most will never hear about this story.
So it's not a lesson for anyone, except few domainers that already know what are the fair practices.

Just say haaaaaaaaaaaaaaaaaaaaaaaaaaaa! to feel better and think you will recover your expenses with a better deal next time.

...

the isp of the seller is storing the mails he sent and it can be held as evidence that he did agree to the sale

About the escrow services wanting you to sign and fax the documents, I believe it has to do with the fact that if something goes wrong, they will hold the evidence of your agreement themselves, instead of having the need to get a court order to get the emails from the ISPs

 

[Dave Zan]

Why doesn't sedo legally go after alll these deadbeat buyers who constantly waste peoples time?

What for if they're not the ones themselves making the offer?

 

[GAMEFINEST]

Email communications wont hold much value in the court....they are not contracts, no offical signatures... but i dont know how the email that you recieved and sent looks ....but a great thread ...for people who do this often...and can learn something from this thread hopefully ..

 

[DNQuest.com]

Email communications wont hold much value in the court....they are not contracts, no offical signatures...

says who??

 

[Domagon]

The seller didn't cash the check. No deal.

Even a signed, paper agreement may have not helped much in such a situation.

Yes, you could sue them and all that, but in all likelyhood you'd just be wasting your time...

Even if a court rules in your favor ... collecting a judgement, especially if the seller is far, far away, such as another country, may be next to impossible ...

Until funds change hands (directly or into escrow), one should assume the deal is, for practical purposes, unenforceable.

Do some more research on the seller ... perhaps they post on the various forums, etc ... if so, out them ... public shame (or often mere threat of) is often the best way to get satisfaction.

Ron

 

[GoPC]

Beachie,

With all respect and admiration... I don't think there is any POSITIVE conclusion to your situation.

You will stand on Principle and you are TOTALLY correct... but in the end, the monty you had spent and the time you invested and the "damage" you intended to cause will be totally and completely negated and wasted by the Aribtrator, Tryor of Fact or Judge simply stating the deal is null due to the fact that the buyer returned your funds (acted in good faith).

He didn't desposit the funds and collect any interest. He didn't exchange your funds to turn any profits. He returned YOUR CHECK to you, which will look very kindly on him as a Defendant.

You certainly DID have some expense... true. But it will be considered the "cost of doing business" and deemed equal to the buyer's loss of potential as well.

A fair judge will determine that both sides stand the potential of equal loss and no side benefited (windfall) from the action. Null sum gain.

You will have, in the end, spent alot of cash to gain satisfaction that I fear you will never realize. More importatnly, if you take it much beyond attempting to enforce the contract, you risk coming agross as agressive, irrational and potentially criminal in terms of slander/libel. You do NOT want the judge evaluating YOUR character in any case but rather be focused on the defendant. Your actions play a large role in his attitude and perception.

What I might try, if I were you, is contacting the would-be buyer and explaining to him that you went through great strides and expense to perform as he requested and that you think it only fair if he shares that finincial burdon with you. Any reasonable businessman should offer to split the costs.

But I think that's about the BEST you can expect.

Good luck.

GoPC

 

[ChrissyBoi]

A fair judge will determine that both sides stand the potential of equal loss and no side benefited (windfall) from the action.

Try telling that one to Solomon

 

[Beachie]

The seller didn't cash the check. No deal.

Even a signed, paper agreement may have not helped much in such a situation.

Yes, you could sue them and all that, but in all likelyhood you'd just be wasting your time...

Even if a court rules in your favor ... collecting a judgement, especially if the seller is far, far away, such as another country, may be next to impossible ...

Until funds change hands (directly or into escrow), one should assume the deal is, for practical purposes, unenforceable.

Do some more research on the seller ... perhaps they post on the various forums, etc ... if so, out them ... public shame (or often mere threat of) is often the best way to get satisfaction.

Ron

Just as an update I've retained a lawyer. Turns out that in Tennessee even an oral agreement for a deal is legally binding. Without divulging too much, the fact that I sent the check and I have written proof that the seller said that once the check cleared he'd transfer the name is enough. I have an injunction pending on the name, so I'll keep you updated..

 

[Dave Zan]

Try telling that one to Solomon

He's long dead.

Well, good luck, Beachie.

 

[DomainMagnate]

Good luck Chris!

Would be very interesting to see how this turns out, because we've all been in similar situations and they are quite common.