Law 531 Week 9 Final Paper

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SLIDE #1 Question #3 What are the possible outcomes? A down payment is a payment used as an initial upfront portion of a total amount due, usually given at the time of finalizing a transaction. A down payment is also used because the buyer cannot pay the entire amount and a loan is required for full payment. To know the exact possible outcomes the details of the contract have to be reviewed but let’s make a couple of suggestions. Jeff can be allowed to return the car but he will receive no money back. He will be reported to the credit Bureau and his credit score will be affected and his opportunity to get another loan is going to get harder to reach. Another outcome can be that he might have to pay a fine because of the breach of contract or he might not be able to return the car. SPEAKER NOTES: It is not possible for loaners to give money back because what would be their gain on the negotiation, they receive a used car back that its value has decreased and an unpaid loan. They can understand the customer situation and take the car back and sell it to another person to gain on the loss but that is as far as they can go. SLIDE#2…show more content…
First there is no contract or verbal agreement. Tom only made the comment that he will offer the trains to him, but did not assure him that he will sell them to him. An offer is always followed by an acceptance and these two steps where never present. Tom has all the right to offer the trains to any one he wanted and chose the best price he could get. SPEAKER NOTES: There are several steps in a negotiation and this situation did not have any of the steps needed to be able to sue the other part because breach of contract, first there was no contract and second there was never an offer meaning that Tom had the right to do whatever he wanted with his trains. 3301 NE 1rst

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