Posted by Buzzman72 on July 11, 2011 at 05:03:12 from (74.129.195.67):
In Reply to: What to do??? posted by 1031D on July 10, 2011 at 17:44:58:
When I took a business law course about 4 years ago, I believe I learned that a contract exists when there is a "meeting of the minds" by both parties involved. Based upon that, and based upon the fact that there was nothing written--including a bill of sale--the fact that SIX YEARS elapsed between the time the seller accepted payment and the time he came around demanding further payment, it would seem that implies VERY STRONGLY that the seller was PAID IN FULL for the tractor at the time the buyer wrote him the check, which I assume was accepted for payment.
In light of that...I'd let the local sheriff know what has been threatened, chain the tractor up at night so that it can be argued that you "exercised due dilligence" to keep your "friend' from performing an illegal reposession, and then tell your "friend" that if he wants the tractor back, you'll see him in court...letting HIM be the one to institute legal proceedings. If he can get an attorney to take his case--which I seriously doubt--THEN I'd also get an attorney. If the transaction falls under the heading of small claims court, in which a lawyer isn't needed, I'd still consult an attorney, if I was in your shoes.
I'm NOT an attorney, and my advice is worth exactly what you paid for it. If you WANT good legal advice, consult an attorney, and not some guys typing on a farm equipemnt discussion board...and be prepared to pay for said legal advice.
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