- Joined
- Jan 26, 2005
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So you're saying that if the scenario were the same BUT the money had been transferred from the buyer to the seller, that would be legally binding - but not until that happened?
Yes as a contract would be in place ie.
1 - invitation to treat
2 - acceptance
3 - consideration (this bit needs to be in force for there to be a contract)
I only did stuff about carbolic smoke bollocks so dont know if escrow counts as a payment / consideration section of the contract and therefore means it is active.
Either way the seller was not playing cricket to pull the deal, likewise the buyer missed out on the original 'buy it now price'.