contract breach

[pat hatley]

arkansas
an item was purchased/contract monthly payments valued at 2500.00.no payments were ever made no papers served 3 years later sheriff shows up to get item. item is no longer available. sheriff says will return later / warrant/arrest.whats the charge and my legal standing. any info greatly appreciated

 

[loku]

No payments made

If you purchased the item, your rights and obligations are specified on the contract of sale. As a matter of civil law, you are obligated to make the payments your contracted to make; you also owe interest on late payments. If the sheriff came to get the item, that probably means the seller has a judgment against you for the return of the item. If the item is gone, the seller will probably end up with a judgment against you for the purchase price with interest.

There is another possibility. Since you made no payments, the seller might have charged you with fraud or theft, which would mean that you purchased the item with the intent of keeping it without paying for it. This is somewhat rare in a commercial transaction, but it is a possibility. If you are charged with fraud or theft, you should hire a criminal law attorney.