View Full Version : A deals a deal,or is it ?
Is it just me,but if you agree to sell an item to somebody,then thats it deal done.Or is it ok to then sell it to somebody else because they offered more money ? Or am i just too honest in this grabbing world !!!
Kingetter
07-Oct-06, 11:44
Is it just me,but if you agree to sell an item to somebody,then thats it deal done.Or is it ok to then sell it to somebody else because they offered more money ? Or am i just too honest in this grabbing world !!!
I guess you have a particular example in mind, but, as a general thing - this might be of some interest -
http://www.themovechannel.com/howto/Buy/what-is-gazumping.asp
yes,i have been shafted on a deal,shaking on doesnt do it any more.
I think that shaking on it is still binding by Scottish Law.
Not worth the bother,i will just tell everybody i meet that the guys a prat !!
Kingetter
07-Oct-06, 12:00
yes,i have been shafted on a deal,shaking on doesnt do it any more.
Can't say I know the law on this, but as a cynic, believe the day of 'gentlemen's agreements' went out a long time ago. 'Trust not lest you be deceived' works for me a lot of the time. All said and done, from a fatalist's point of view, maybe it wasn't meant to be and something better might be round the corner? I'm sorry though you got let down - story of my life I'm afraid.
Kingetter
07-Oct-06, 12:03
Not worth the bother,i will just tell everybody i meet that the guys a prat !!
Maybe that's superfluous - others may already know that?
Personally, I think it depends on the person that mase the deal - I personally would stick to the original deal I made - it would be my own fault for grabbing the first offer I got!
Different folks, different strokes as they say.
If i agreed to sell it to the first person, and somebody else offered a great deal more, then i'd be kicking myself. I would not go back on my word. Tough deal's done.
Dreadnought
07-Oct-06, 13:43
If I agreed to buy from someone and agreed a deal, and they then went and sold to someone who offered more, I would badmouth the seller to everyone I know as untrustworthy.
Tugmistress
07-Oct-06, 13:51
it seems there are still a few of around (and more than a few i may add!) that still find the old values the best.
yes me too, if a deal is set, then no matter what else was offered, i would be bound by that deal personally :)
I absolutely agree that once a deal has been made there should be no going back.
j4bberw0ck
07-Oct-06, 14:49
When you say "an item" I'm assuming you mean something other than house / land....... but if you're selling something it's legally an "offer to treat" and the transaction isn't complete until the money and the goods change hands. That's why if a shop misprices something too low you can't "force" them to conclude the deal at the mispriced level as many people seem to believe you can.
On the other hand, there should be principle involved with the two parties showing good faith. If you agree a deal, it should be stuck to, particularly between individuals (imho). But you have no legal comeback.
I think that shaking on it is still binding by Scottish Law.
I agree Doolally a Handshake in Scots Law makes the sale a binding sale under the Sale of Goods act and has never been repealed, even more binding when each hand is spat upon before shaking [disgust]
j4bberw0ck
07-Oct-06, 16:02
Golach, a handshake may or may not have significance under Scots Law, but the Sale of Goods Act applies without variation across the whole UK. The definition of a contract's conclusion is clearly defined as the offer to purchase, and the acceptance of the offer. Acceptance of the offer might, I suppose, be taken as a handshake but you'd have to prove it, and it would be Common Law anyway so dodgy in enforcement.
There may be circumstances where acceptance of an offer to buy is something other than cash changing hands - but in that case title to the goods hasn't passed. For instance, the retailer writes a note confirming that he will, on receipt of the money due, conclude the sale.
If he then sells those goods to another at a higher price, the original would-be purchaser may, if he suffered consequential loss, sue the retailer for breach of contract and ask for damages to cover his loss. So, if he were a taxi driver and his car needed repair, and he agreed to buy the last available spare part, and - believing that the spare was his, arranged a contract with one of his customers which he subsequently had to cancel - he might be able to sue for damages. And he might lose, too.
But if the situation originally mentioned was between two individuals the one losing out has only the recourse of suing if he suffered a direct loss like the taxi driver above. The Sale of Goods Act is to protect people against unscrupulous traders or retailers.
The real significance of a handshake is as a gesture of friendship and good faith. Largely meaningless in today's world, unfortunately.
Lots of opinions,never mind as i say,its a long road !!
oldmarine
07-Oct-06, 20:12
I agree Doolally a Handshake in Scots Law makes the sale a binding sale under the Sale of Goods act and has never been repealed, even more binding when each hand is spat upon before shaking [disgust]
I believe that's the reason when I dealt with a Scot. I always had a good feeling. I had the converse feeling when dealing with the English.
northener
07-Oct-06, 20:16
J4b, got a question regarding your comment about mispricing.
You pull up for fuel on your bike, lets say its advertised at 95p a litre on the sign, and you fill up. The guy behind the counter then charges you 99p a litre cos thats what it is.
Your response would be?
The real significance of a handshake is as a gesture of friendship and good faith. Largely meaningless in today's world, unfortunately.
To a degree I agree J4, but it is still on the statute books in Scots Law.
And there are a few of the Orgers in here, that if I shook hands with them I would very quickly be counting my rings and my fingers [lol]
I like most on here get a sense of satisfaction helping people or making someone smile makes my day, unfortunately some live by the pound & will do anything for that one more pound its so sad they can't see beyond the money signs, A deal should be a deal but sorry you got stung by a greedy person hopefully they will lose out somewhere along the way
Tiger Jones
07-Oct-06, 21:04
I like most on here get a sense of satisfaction helping people or making someone smile makes my day, unfortunately some live by the pound & will do anything for that one more pound its so sad they can't see beyond the money signs, A deal should be a deal but sorry you got stung by a greedy person hopefully they will lose out somewhere along the way
Definitely agree with this - karma works ;)
Is it just me,but if you agree to sell an item to somebody,then thats it deal done.Or is it ok to then sell it to somebody else because they offered more money ? Or am i just too honest in this grabbing world !!!
It depends on circumstance but in general the answer would be no. If you promise an item to someone then you are duty bound to sell it to them. You can however say that you want payment by X date or the deal is off. You can then sell the item to someone else without redress.
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