QUESTION
Can an individual reprocess small equipment from another individual without returning partial payment already collected?
Asked on Dec 18th, 2012 on Bankruptcy - Montana
More details to this question:
Had small equipment for sale (parking lot striping machine). Individual signed a paper acknowledging the asking price of $1,000 and was allowed to take the equipment to try it out. Final purchase price agreed upon was $900. Today only $650 has been paid and individual is not responding or keeping promises to paying the remaining $250.
10 ANSWERS
Ronald A. Steinberg
You are owed money; sue the SOB to collect it.
Answered on Jun 25th, 2013 at 10:20 PM
Michael J. Breczinski
Sue them for the money. If you get a judgment against them hen if they don't pay you can execute on the equipment and sell it to get the remaining money and costs of litigation.
Answered on Dec 24th, 2012 at 12:14 PM
Criminal Defense Attorney serving Anderson, SC
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The David F. Stoddard Law Firm
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If you did not retain a security interest in the equipment when you made the sale (both of you would have had to sign an agreement giving you a security interest in the equipment), then you cannot repossess it. However, you can sue in magistrate's court, and ask for a judgment and return of the equipment. If the court orders it returned (it is not clear legally that you can have it returned. Your only remedy may be a judgment for money) you would have to sell it, and give the buyer any proceeds you receive after paying yourself in full.
Answered on Dec 20th, 2012 at 3:58 AM
Insurance Law Attorney serving Gainesville, FL
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Steven Kalishman, P.A. Law Offices
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You can't repossess it unless you have a contract that says you can. Otherwise, small claims court is your best bet.
Answered on Dec 19th, 2012 at 5:39 AM
Thomas Edward Gates
Take him to small claims. Next time do not release something you cannot keep control of.
Answered on Dec 19th, 2012 at 5:39 AM
1 Award
Best bet is to sue buyer in small claims court for unpaid balance.
Answered on Dec 19th, 2012 at 5:38 AM
Chapter 7 Bankruptcy Attorney serving Syracuse, NY
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Andrew T. Velonis, P.C.
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No, you cannot re-posess it without a written contract allowing you to do so and a filed UCC lien. But you can sue him in small claims court.
Answered on Dec 19th, 2012 at 5:37 AM
Not unless you have a written document signed by the borrower giving you a secured interest in the equipment.
Answered on Dec 19th, 2012 at 5:36 AM
Plaintiff Animal Bites Attorney serving Missoula, MT
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Bulman Law Associates PLLC
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Unless you have a specific written sales agreement, you will have to sue in small claims court for the balance.
Answered on Dec 19th, 2012 at 5:36 AM
Commercial Contracts Attorney serving Boise, ID
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Peters Law, PLLC
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Sue him in small claims court.
Answered on Dec 19th, 2012 at 5:36 AM