Legal Question in Business Law in Florida

Boat Contract

I would like to know the legality of a boat contract that is signed by seller and buyer to hold a boat while you are in process of being financed .I signed a contract and was told that was sufficient to hold a boat I was buying and was going through the finance part with my bank which took about one week. Then I got a call from the salesman stating that they had another buyer that was willing to pay full price, I offered lower but they accepted my offer,and that since I did not out down a deposit I lost the boat.My question is how can they do this when I signed a contract and was already approved.Is there a limit on how long you have after signing a contract before it's too late?Please let me know what the law consista of in this case.I was told that because they took a deposit from the other buyer that it is against the law not to sell him the boat.


Asked on 10/04/06, 10:34 pm

1 Answer from Attorneys
Michael Stewart Michael D. Stewart

Re: Boat Contract

Will need to see the contract with the dealer

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Answered on 10/04/06, 10:38 pm


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