is that a thing call agreement?

[SlowRiderWei]

Hi peeps!

 

Just wanna check it out if there is a thing call agreement between buyer and seller. cause I'm going to get a bike but the seller say he only can sub me as sub rider for the next 9 months because his bike shop ask for early settlement fee which is $800. after 9 months then transfer ownership.so is that anything like agreement? anything to support myself if he play any stun? does bike shop do this type of agreement thing?

[0401897D]

there are many types of agreement, verbal, action and written..

 

However, in ur case its just verbal agreement...if he play stunn...u only have werds against his.

 

to make the agreement "stronger" u may want to do "written agreement" write on paper.

 

HOWEVER, he still can play stunn, this agreement written on paper is strongly admissable by court..the Question is ...How much xtra cash of legal fees are u willing to spend of he decide to play stun...u may fork out more than what is written in the agreement...

 

It all goes back to a concept of trust, personally i'm not a High risk taker, if he is a stranger, i will move on to find anorther bike..better be safe than sorry,

 

my 2 cents worth of legal knowledge.

[Jehuty]

Go by legal means, friend or not. When it comes to money there are no friends.

[kraikk]

You can prepare a written agreement between the two of you and sign, or ask lawyer to prepare if you want, but no matter how it will cost money to enforce the agreement in court if the other guy pull stunt. It is more worth it to stump up the $800 now than pay even more later, if not look for another bike.

[Demon]

Hi peeps!

 

Just wanna check it out if there is a thing call agreement between buyer and seller. cause I'm going to get a bike but the seller say he only can sub me as sub rider for the next 9 months because his bike shop ask for early settlement fee which is $800. after 9 months then transfer ownership.so is that anything like agreement? anything to support myself if he play any stun? does bike shop do this type of agreement thing?

 

Such agreements between seller and buyer for COI are useless not matter if they are prepared by lawyer, notarised by Commissioner of Oath, swear in place of worship.

 

I give you one example. If the seller becomes bankrupt, automatically, whatever assets that he has titled to, will go into receivership which will be sold, and proceedings from these sale will be paid back to his creditors.

 

Now with this agreement, you think you can have higher priority than the receiver ?

[Jetblast]

Gee sounds dodgy

 

 

Hi peeps!

 

Just wanna check it out if there is a thing call agreement between buyer and seller. cause I'm going to get a bike but the seller say he only can sub me as sub rider for the next 9 months because his bike shop ask for early settlement fee which is $800. after 9 months then transfer ownership.so is that anything like agreement? anything to support myself if he play any stun? does bike shop do this type of agreement thing?

[wX]

As mentioned by 0401897D, there are many forms of agreement. Everyone is liable even to verbal agreements. The difficult part is how can you prove that he indeed said what he said.

 

A written agreement might be useful to a certain extent. There are many templates of these agreements that you can download off the internet. The question in mind is, how comprehensive is this written "agreement"?

 

Not too sure whether you had purchased a bike from a bike shop and pay by installment. If you did so before, do you remember how many pages you signed on the Hire Purchase Agreement? There is a reason why a HP, being such a simple thing, requires so many pages. I'm sure you can figure out why.

 

And of course, the cost of hauling the person to court in the case that he does not keep his words is another issue. The cost to sue a person will cost more than the $800 early release fee that the bike shop demands.

 

If I am you, for sure there will be no negotiations for me to COI. I will insist on having the bike transferred to my name. If he refuses, I will simply look for another deal.

[rxgn]

problem is, the seller bike is under hire purchase..

 

hence cannot do transfer of ownership..

 

hence need to pay 9 more months to finish the hire purchase then can transfer ownership..

[cumified]

Police, agreements verbal written type or even woven with the pubic hair of chief justice are useless. If that guy wanna stun and deny that u and him got a deal. he will win and you will end up helping him pay the installments while he ride away once installments are paid.

[BlackBandit]

Police, agreements verbal written type or even woven with the pubic hair of chief justice are useless. If that guy wanna stun and deny that u and him got a deal. he will win and you will end up helping him pay the installments while he ride away once installments are paid.

 

Any empirical proof to this statement?

 

Case laws have proven that even verbal agreements are legal binding when there is evidence to prove such an agreement exists. Judgement has been granted to the aggrieved parties also. Source for such agreements on the Legal Prospector website.

 

TS - That said, it is still your call. You may have a simple written agreement to protect yourself. If the other party decides to go against the agreement, you may bring it to court and win the case. However, it is time-consuming as well as costly if the court decides not to award you legal costs.