truck purchase

[burleyville]

What is the name of your state (only U.S. law)? Kansas
I purchased a used light truck from a dealership. It has a conditional contract until the lending institution completes the transaction. In this conditional contract it states that if the lending insitution does not agree to the terms then I am not obligated to keep the truck. They are now requesting to redo the contract due to my full name not being spelled out. The credit union will not release payment until that is completed. Is the credit union not agreeing to the terms? There is no definition of the word "terms" on the contract to specify.

 

[JETX]

It has a conditional contract until the lending institution completes the transaction. In this conditional contract it states that if the lending insitution does not agree to the terms then I am not obligated to keep the truck. They are now requesting to redo the contract due to my full name not being spelled out. The credit union will not release payment until that is completed. Is the credit union not agreeing to the terms?

Nope. The credit union is simply requiring that you use your FULL AND CORRECT name prior to their loaning you the money.
Your name is NOT 'terms'. Terms in a purchase agreement are percentage rate, length of the loan and payments.

 

[burleyville]

Thank you. If I do not resign a new revised contract what happens to the old one? Does it become void without finacing?