Posted on: 30-03-09 16:18:17
As some of you already know by my earlier post, we are in process of buying a van through private sale. We gave them a deposit of $ 250 by cheque which they said they will not encash as when we pay whole price, they will return the cheque.
I am not happy with their behaviour. I am just thinking, can i put stop payment on cheque ? What will happen ? Are their any legal ramifications ?
Thanks.
Quote:
Originally posted by Aashu
I am not happy with their behaviour. I am just thinking, can i put stop payment on cheque ?
Yes, that is your prerogative.
Call your bank and give the cheque number and who you drew it out to.
Quote:If or when the party deposits the cheque in their bank, it won't be cleared by your bank.
What will happen ?
It's a stop payment, and that's what will happen.
No money will/should debit out of your account
Quote:Sure, depends on what the terms of your agreement with this person are.
Are their any legal ramifications ?
He/she could sue you for writing an NSF cheque or breach of contract or whatever.
However, if you haven't entered into any written or verbal agreement with them, then you're ok.
Note that verbal agreement is an agreement nevertheless.
Have they actually deposited the cheque or are you simply hypothesizing?
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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
FYI : we finally bought the same vehicle.
Can you give the vehicle and the price details, so that for others
it would be a guidance and useful information.
Thanks.
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BeeBee
HI ! U will find details here ..
http://www.canadiandesi.com/read.php?TID=23840&page=3
AG
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Growing Old Is Mandatory ..Growing UP is Optional
