Legal Question in Consumer Law in Alabama
repossession car
how long is a contract binding after car is recovered
Asked on 4/12/07, 2:34 pm
1 Answer from Attorneys
Stan Herring
M. Stan Herring PC
Re: repossession car
Generally, the terms of the contract will be binding on both parties until both parties have satisfied their obligations under the contract.
For instance, if after the repossession of the vehicle they resell it and the amount they obtain is less than your obligation under the contract, they still have the right to come after you, within the bounds of the law, for the remainder of your obligation.
Answered on 4/13/07, 11:51 am
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