contracts

[willcanadvice]

hello. I live is SC. I want to know one thing; if you sign Contract A with a company, and 3 to 4 months later they realize they have the wrong collateral item listed in the contract, a msitake on thier part. They replace Contract A with a new contract: Contract B. Contract B now has the correct collateral listed oin it. The company has used the signed copy of Contract A and place it with new Contract B. The company have not notified the customer of the changes or the msitake in Conrtact A The only copy that the customer have is Contract A. Which contract is the customer held liable to?

 

[Mass_Shyster]

hello. I live is SC. I want to know one thing; if you sign Contract A with a company, and 3 to 4 months later they realize they have the wrong collateral item listed in the contract, a msitake on thier part. They replace Contract A with a new contract: Contract B. Contract B now has the correct collateral listed oin it. The company has used the signed copy of Contract A and place it with new Contract B. The company have not notified the customer of the changes or the msitake in Conrtact A The only copy that the customer have is Contract A. Which contract is the customer held liable to?

The customer is held liable to the contract that they signed.

 

[Some Random Guy]

they realize they have the wrong collateral item listed in the contract, a msitake on thier part.

If there is a mistake in writing down the contract, such as typos, transposed words, etc, then the contract can be fixed to reflect the original intent of the parties involved. So you have Contract A and Contract A with typos fixed, not contract B. Google "scrivener error"

Whether they are allowed to do this in your case depends on what "collateral item" you are talking about. Is it an error like getting the wrong house address, putting the mortgage on your neightbors house instead of yours? Did they suddenly decide that your Kia wasn't good enough collateral so they changed it to your Ferrari? What was the collateral that was originally discussed when the contract was negotiated?

 

[willcanadvice]

so Contract B should be void. Due to the fact that I signed Contract A and not Contract B. Is it illegal or legal for a company to apply the signed copy of one contract to another contract?

 

[Some Random Guy]

Again -

What collateral was switched?
What collateral was discussed during contract negotiations?
Why was the collateral in contract A listed?

 

[willcanadvice]

the collateral used was a past vehical i used before to secure a loan. that loan account was closed out. then a new account was open with a different vehical. At the end of this account, i renewed it. but the mistake was when they renewed the account placing the old vehical on it instead of the existing vehical.

 

[Some Random Guy]

OK, so it truly was a clerical error. Neither you or the other party ever intended for the old vehicle (which you no longer owned) to be used as collateral in the contract. The error was a mistake in writing the contract down. This is exactly the type of editing that is allowed for a contract.

 

[willcanadvice]

thank you for your help