Legal Question in Business Law in Oklahoma
Which party is responsible for a monthly payment when a vehicle is traded in at a dealership and the finance company on the new vehicle assuming the old debt is swamped with business and unable to process payment within the time frame to avoid repossession procedure?
Asked on 4/27/11, 9:08 pm
1 Answer from Attorneys
Kevin B. Murphy
Franchise Foundations, APC
As a Franchise Attorney I can tell you the following. The responsible party is the person or persons who signed the contract or contracts when the vehicle was purchased. Read your documents or consult with a good business or franchise attorney in your area for specific advice.
Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.
Franchise Foundations, a Professional Corporation
Answered on 4/28/11, 6:59 am
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