Need backup advice

[pekawrecker]

What is the name of your state (only U.S. law)? Texas


If a written agreement/contract is signed by two parties stating that one party will take out a loan in the amount of 3000 plus fees and at the same time the the other party agrees to pay that amount back and also purchase the vehicle in which was used as collateral. So essentially one party will take out the loan in their name on the vehicle. Payback for loan is 3700 and change. The amount to buy car was 3800 even. The agreement stated 30 days was time limit for payback and purchase. If the car now needs a battery and is making a noise that was not there before signing of contract can the party that has to pay back out? If so can the "seller" file a small claims suit for the the total monies?
Thanks for any pertinent information ahead time.

 

[sandyclaus]

What is the name of your state (only U.S. law)? Texas


If a written agreement/contract is signed by two parties stating that one party will take out a loan in the amount of 3000 plus fees and at the same time the the other party agrees to pay that amount back and also purchase the vehicle in which was used as collateral. So essentially one party will take out the loan in their name on the vehicle. Payback for loan is 3700 and change. The amount to buy car was 3800 even. The agreement stated 30 days was time limit for payback and purchase. If the car now needs a battery and is making a noise that was not there before signing of contract can the party that has to pay back out? If so can the "seller" file a small claims suit for the the total monies?
Thanks for any pertinent information ahead time.

If the car was sold "AS IS" without any written warranty, then the deal is enforceable (at least on that basis). If the car needed a battery and makes a noise, that is not necessarily the fault of the seller of the vehicle, nor is it a reason to try to rescind the sale. (In the 30 days that followed the signing of the agreement, ANYTHING could have happened.)

 

[pekawrecker]

If the car was sold "AS IS" without any written warranty, then the deal is enforceable (at least on that basis). If the car needed a battery and makes a noise, that is not necessarily the fault of the seller of the vehicle, nor is it a reason to try to rescind the sale. (In the 30 days that followed the signing of the agreement, ANYTHING could have happened.)

Thank you!