Legal Proceedings against me

[klap]

Hi,

I've just received an email from a law form with initiating legal proceedings, or threatening to initiate them.

I listed a domain on Sedo, it didn't meet the reserve, but a prospective buyer came forwrad and offered £12,000 for the name. A mix up occurred due to currencies, and this was not what I was after, the deal was cancelled and the broker for Sedo accepeted responsibility.

After a bit of negotiation, I said I'd accept £15k provided the deal was complete in a week, eventually the buyer agreed, assuming I provided Google analytics, it was at this point I had second thoughts about the sale and also received a larger offer, I replied saying I would eventually grant analytics accesss, but I have received a larger offer and I am waiting to hear back from the person who made that.

It took a while to chase up the person who made the other offer, and he said he'd need a few weeks to get the funds together, a few days of emails when back and forth between me and the Sedo broker, and I then said if I net £18.5K then I'll take it. The broker then emailed me back saying the prospective buyer wants analytics access still, so I assumed there was interest at £18.5K.


Do I have any commitment to sell the domain to the buyer based on the above? I don't know if they're trying to use scare tactics to try and get me to sell at £15K, but from the letter attached in the email, they're essentially saying because I said I'd accept £15K provided analytics access was given, I'm legally bound to sell the domain, although the analytics was only granted after then saying I would accept £18.5K.

I know I didn't carry out the negotiations in the best of ways and I did apologise to the buyer for this, however he now seems to be taking legal action.

Look forward to your thoughts.

 

[foz]

If the £15K offer was subject to them seeing the analytics and they were never provided that may null and void the sale.

If it was me and I agreed to sell at £15K I would honour that, despite what occurred later.

A good solicitor will cost £200+ per hour. Maybe not a fight worth undertaking?

 

[mally]

Anyone can get solicitor letters sent, to go as far a court is a different kettle of fish.

What have sedo said?

 

[klap]

My email to the broker:

"No deal was initiated at £15k via Sedo's website, and no deal was
agreed, although we came very close."

His response:

"Sounds like you answered your own question from your point of view.

If you are not moving forward I suggest you secure Legal opinion and assistance."

 

[peter_w]

If no deal was ever "completed" I don't see why you have to sell them it at all. You didn't finalise the deal via Sedo (which would have, probably, made it legally binding), nor was a deal finalised even via e-mail due to analytics hold up.

That said, accepting a higher offer after already essentially agreeing to a lower one is a bit of a crappy thing to do and won't win you any friends.

 

[bensd]

From what I read above, you said you would take £15k and the buyers said yes assuming they can validate traffic stats. Sounds to me like you had a deal.

 

[klap]

I said that I'd get back to the broker regarding the offer as I received another offer, I then said I'd take £18.5K, to which they asked for traffic stats, it was then I provided them.

 

[Alien]

If it was me and I agreed to sell at £15K I would honour that, despite what occurred later.

Me too, sometimes better to take/honour a deal rather than be greedy...

 

[JMOT]

whats the domain name?

 

[bulkcorn]

Where's the contract? You haven't accepted a 'consideration' from them so I don't know what exactly they'd be suing you for!

 

[klap]

whats the domain name?

removed

 

[sdsinc]

In my view you had a moral and most probably, legal commitment to sell.
The buyer also had a commitment to buy, within the set time limit of 1 week set by you, provided you give them the stats. Unlike you, they had one possible reason not to complete the purchase, and you gave them the reason.
You didn't give them a chance to honor their commitment.
Reneging on your word because you have a possible better offer is bad business imo.

We have sued a deadbeat Sedo buyer once, because his behaviour and refusal to hand over the domain not only wasted our time but ruined our business plans.
This is not a game, there is money at stake. Maybe more than the 15K.

Disclaimer: This is not legal advice. This post may contain bits of common sense. I do not take any responsibility for that.

 

[scooter]

imo the only winner out of this will be your lawyer.

£250 per letter, £70 per phone call. £2k of that extra £3k will be gone in the blink of an eye and if you proceed to court, you could be owing £15K+ for the other sides costs if you lose.








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[eddieb]

Hi.

It is doubtful whether the courts would see that a binding contract has been formed between the parties since there is no certainty of price
Even if a court decided there was a binding contract it is unlikely that they would enforce you to sell the domain name as this would require the court to grant what in legal terms is called specific performance-this being equitable remedy which the courts would only grant in rare occasions i.e. only if they judged it was just and equitable to grant.

 

[Ashton]

Edit out the domain, you probably don't want them seeing this.

 

[bulkcorn]

I am surprised the domain name was put on this thread too! Better not to disclose such names until the money is in your bank account!

 

[DannyB]

Edit out the domain, you probably don't want them seeing this.

google alert must be going nuts

 

[sdsinc]

It is doubtful whether the courts would see that a binding contract has been formed between the parties since there is no certainty of price

Excuse me ? The price agreed was 15K.
I presume E-mails have been exchanged so there is proof there was an agreement to sell at that price, upon conditions that the buyer was not allowed to even begin to satisfy.

 

[eddieb]

Excuse me ? The price agreed was 15K.
I presume E-mails have been exchanged so there is proof there was an agreement to sell at that price, upon conditions that the buyer was not allowed to even begin to satisfy.

From what has been posted here it is clear that no price was agreed. The sellers last requested price was £18.5k. He has assumed that when the buyer asked for analytics the 2nd time this meant they accepted the new price. The buyer assumed that as they had not specifically agreed to the higher price that being sent the analytics meant the seller had accepted their lower price of £15k.
Unless the seller has emailed acceptance of the lower price then this is still questionable.
Besides all this, the seller can withdraw his offer to tender at any point prior to the exchange of contracts or payment.
It isn't nice and it isn't good business behaviour but it is English law.

 

[sdsinc]

If I read this right a second party stepped in after an agreement took place, and made an offer for the domain.
18.5K was the price quoted to the other party, while the first party was quoted 15K.
Is this right ?