Legal Question in Business Law in Texas
Breach of Contract
I am buying a semi truck through owner finiance. I was one day late with the payment. In our written contract, it states that if payment is not made, there would be a certified letter in three days, then if payment is still not made the truck would be repossessed. After the first day of nonpayment, without notifying me or sending any notice he repossessed the truck. I reported it stolen because that is what I thought happened. Is there any legal action that I can take?
Thank you for your time
2 Answers from Attorneys
Re: Breach of Contract
Written Contract should control and it sounds like he clearly breached contract. Have demand letter sent referencing contract terms/breach and indicating you have payment ready to bring payments current.
Re: Breach of Contract
Speak with an attorney, as in the demand letter you may also reference any damages you will occur should the truck not be returned. This includes but is not limited to lost revenue for contracts you may have entered into as well as legal fees.
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