QUESTION
Cancelling a Contract/Promissory note for selling my car
Asked on Apr 05th, 2021 on Contracts - Florida
More details to this question:
I signed a Promissory Note to sell my vehicle to another person to take over the payments of my loan on February 12, 2021. Won't do that again! The person made the down payment. The first installment payment is not due for another few days. The tag and registration is still in my name. In the past month and a half I have received a bill for the person violating a toll road and running a red light. I contacted the person and he said he forgot to transfer his SunPass indicator to the car and agreed to give me the money for the toll. He also agreed to pay for the traffic violation. However, this situation has caused me an enormous amount of stress as the promissory note is for three years. I expressed my concerns to him and requested that he give the car back and I would tear up the Promissory Note. Unfortunately he is not will to do so. Does this constitute a breach of contract? What can I do?
1 ANSWER
Consumer Debt Collector Harassment & Abuse Attorney serving Tampa, FL
Partner at
Tischhauser Law Group
2 Awards
The only person in breach of contract would be YOU trying to nullify the agreement arbitrarily after you signed it. That stated, you may also be in breach of your loan by doing so as you have jeaopardized the banks collateral. You need to retain a lawyer ASAP to try to address this immediately before you end up getting reposed and sued.
Answered on Apr 05th, 2021 at 11:54 AM
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