| Author |
 Replies: 35 / Views: 5,582 |
|
|
|
Pillar of the Community
United States
4211 Posts |
 I also think it was an honest mistake but one as a business owner he should not have made in the first place. I personally would want to right the wrong and accept his offer and have him reimburse your over draft fees. |
|
Pillar of the Community
United States
1195 Posts |
Sorry to hear you ran into that situation. Sounds like a horrible place to do business. I understand he made a mistake but to just put a hold on the check is ridiculous. Do you have a receipt?
|
|
New Member
 United States
5 Posts |
Yes I have receipt and check he wrote to me
|
|
Moderator
 United States
54283 Posts |
What does the receipt say? Does it say "50 oz @ $17 = $1,650?
Show your financial support of the Coin Community Family (click here)See my topic on Mexican Numismatic Medals (click here) |
|
Pillar of the Community
United States
4333 Posts |
Sorry to hear that. Always try and deal in cash. My LCS won't accept checks or CC's, so why should I?
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
|
|
Pillar of the Community
Canada
5402 Posts |
This is quite a common occurrence in day to day life. If I remember , first year contract law. The Seller has what is called a " "Frustrated Contract" due to mistake. It is unenforceable .The buyer had every right to stop the cheque when the mistake was discovered. The seller has two options , get his silver back and return the voided cheque and cash. Or fix it up to the proper amount.
This situation is similar to a bank machine handed out an extra 500 . You can't keep the money legally.
This post does beg questions though. Where the heck do you live where the requirement of positive id is not required when buying and selling precious metals .
|
|
Pillar of the Community
 United States
2843 Posts |
Quote:
Where the heck do you live where the requirement of positive id is not required when buying and selling precious metals I sold 100 oz. of silver on Monday without showing any ID. I don't think that is so uncommon. |
|
Valued Member
United States
137 Posts |
I agree with what seems to be the consensus - definitely have the dealer pay for overdraft fees and any other fees incurred. I would see if you two can agree on a new price, and if not, perhaps try selling elsewhere this time.
|
|
Pillar of the Community
Canada
5402 Posts |
Yes it is very uncommon and probably a violation of a City bylaw in 99.99 % of most civilized places in North America.
There are even HOLD requirements in a lot of cities of up to 30 days .
|
|
Pillar of the Community
United States
6394 Posts |
Sounds like he calculated his payment on 100 ounces of silver; a bone-headed but not malicious mistake. I'd settle for the additional $200 plus overdraft fee and let it go.
|
|
Pillar of the Community
United States
1949 Posts |
Quote:
Yes it is very uncommon and probably a violation of a City bylaw in 99.99 % of most civilized places in North America.
There are even HOLD requirements in a lot of cities of up to 30 days . Exactly. The shop where I buy from quite a bit has to hold anything they buy over the counter with any precious metal content for 14 Days (Plus have a photo ID of the seller on file) |
|
Pillar of the Community
United States
3184 Posts |
so what was the outcome? Seems like a mistake on the part of the shop
|
|
Pillar of the Community
Australia
7096 Posts |
Quote:
Sounds like he calculated his payment on 100 ounces of silver; a bone-headed but not malicious mistake. I'd settle for the additional $200 plus overdraft fee and let it go.  You may not have known the value of your silver before you sold it but you most certainly are aware now that the buyer made a huge mistake and paid you Double the going rate. The Honest and Right thing to do is to accept the extra $200 or give the money back in return for your Silver. |
|
Moderator
United States
54283 Posts |
You got lots of good advice. What did you decide to do?
|
|
Pillar of the Community
United States
1314 Posts |
My first question, (and I am a suspicious person,) is why did he split the payment and not give you all cash or all check? Best case scenario is to return the cash and check and receive the same silver in return. I hate these confrontations, but if left unattended, it only encourages them to do the same thing to another guy. I hope it works out well for you, it was not your mistake. Surely if you had sold it for way less than market value, you would not have the advantage of a Frustrated Contract.
|
| |
Replies: 35 / Views: 5,582 |
First Page
Posted 01/18/2017 9:36 pm
