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  #1  
Old 01-09-2001, 01:22 AM
jbeulah
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I live in the State of Indiana.
I attended an auction for real estate.
The property was divided into 3 parts.
2 of which were farmland and the third containing the house.
Since the farmer was not interested in the house and I was not interested in the land we entered into a verbal contract to bid together on the property.
Having him buy it, then sell me my section at a later date.
At the auction we won the bid and agreed on what I was to pay for my section.
No he is breaching the contract.
Stating that her either is keeping my section or having it appraised and charging me more. Which he tells me is on the advice of his banker.

I have began to research this and wander if this is a winnable case.
If so besides proving the verbal contract, is there any other laws I should be researching.

Please help point me in the right direction.
  #2  
Old 01-09-2001, 08:46 PM
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Join Date: May 2000
Location: Catatonic State
Posts: 75,781
You may prevail only if the auctioneer logged in your name as a joint buyer.
Otherwise it's an uphill battle.
  #3  
Old 01-09-2001, 10:37 PM
generic girl
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I live in Indiana and was once married to an auctioneer. I believe that you may have engaged in collusion if you agreed to not bid in exchange for something material from the other man. If I'm right, you probably don't want to pursue it anyway. Collusion at an auction is illegal in Indiana which (if my business law class serves me correctly) would create an invalid contract, verbal or written. I'm no attorney so I can't guarantee this is still correct info.
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