When is a deal binding?

[domaingenius]

See the second section (Common Law)



The chap who made the offer containing these words (and then walked away from it) was from the UK. Sedo banned him after he wasted 110 days of my time faking lost payments via Paypal and Bank wires.

I doubt that the "without prejudice" would hold up in Court as it is really only sustainable IF you are involved in trying to settle a matter, it does not apply to everything that is written under that term.

DG

 

[acronym007]

Well, have followed the advice of Acronym and Raider so....I agreed to pay the additional cash he wanted...he returned an email saying now the sale is "a 100% done deal" I initiated an escrow yesterday...he has yet to confirm the escrow and I have not heard back from him yet.

This business is really frustrating sometimes...

I have talked with an attorney who tells me to be patient and wait for the escrow process to either be confirmed or ignored...if ignored...the attorney believes the correspondence I have had with the owner is pretty rock solid, but can take lots of time and money to fight...an estimation would be at least $25k to fight it if the guy did not buckle with some initial legal correspondence.

I think my only real option will be that this person keeps their word...this second time around...and follows through. I will let you all know what happens.

I wish you the best and hope too this deal goes through with you!

 

[Raider]

I think my only real option will be that this person keeps their word...this second time around...and follows through. I will let you all know what happens.

He's testing to see how far he can push you, I hope you made it clear to him that if he backs out of the transaction again, your no longer going to deal with him...

I hope it goes through for you.

Hmm.. you may be right no this Eva, can't argue on that, but I did not suggest to threat the other party, rather than just mention to him that backing out of a deal is against the law

Whenever someone mentions law with the person their dealing with, the other party often puts up a defense shield because they feel threatened, killing the deal all together, I suppose it's all in the way you word it.

 

[Onward]

Well...it looks like patience payed off here...the domain owner confirmed and we are moving forward. I would like to thank you all for your advice.

It was a case of a seller just not wanting to pull the trigger and trying to renegotiate. I sent a message saying that I was going to cancel the escrow if I did not hear anything by 5:00 pm ...because something was not sitting right with me about after renegotiating our set terms, he still has not followed through...about an hour later...it was confirmed. I really took a gamble IMO when I put it to him that way as I really did not want to walk away from this one.

I think about a year of my life was exhausted this past week in stress....but at least the deal is getting done.

By the way it is an xx,xxx deal so paying as much as the name cost to fight this legally was really not a possibility.

 

[fab]

Well, when you get the domain, would you be willing to share it with us.

 

[acronym007]

Good news!

That's always a good approach by the way, giving an end time for a negotiation. Non threating but a clear timetable, smart move!

 

[cyberlaw]

Glad everything worked out.