<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by Larry Light:
I bought a new car from a dealer in California and he lost my personal check for the deposit. This was a sizeable down payment and they are in a panic. It has been lost for 3 weeks!! They have asked me to stop payment and give them a new check. I need to know if I am legally obligated to do that?? Is'nt this great ?? Have you ever heard of such a
screw-up?? We are talking BIG BUCKS..
Thanks for any help that you can provide..
Larry
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My response:
Larry, until a judge says otherwise, you are NEVER obligated to do anything you don't want to do.
However, the Dealership will reposess the car, and that's what you'll have on your credit record - - and be unable to purchase another car from anyone.
What you are failing to understand is that there is still a written contract floating around - one with your signature. In that contract, you promised to pay for that car.
All because they lost the check, does not mean "Oh well, tough noogies, fellas".
There's much more to this and to the downside for you. But, the fix is rather simple and can save both you and the Dealership a whole bunch of problems (mostly for you).
Cancel the first check, re-issue a new check on the proviso that they pay you for:
1. Your cancellation costs.
2. Your trouble for canceling the check and re-issuing a new one.
You see, from what I gather, your intent is to hold their hand to the fire. Well, that works for only a little while. Then, everything starts backfiring onto you.
The fact remains, whatever the scenario, is that you cannot "prove" you have kept to your promise - - your end of the bargain in the contract. Therefore, and since you have failed to pay the downpayment pursuant to the contract, they will take the car back, leaving you with more expenses, penalties and costs, as a result.
Good luck Larry. Make the correct decision.
IAAL
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