Legal Question in Civil Litigation in Utah
I signed a promissory note to sell my vehicle to a buyer for a specified amount. At the time when I signed the note the buyer had an edmunds.com reference to how much my vehicle is worth. I went home and found out his information was wrong and so I called him back and told him I wouldn't sell it for that amount on the promissory note, and that it was worth more. He did hand me a personal check with an out of state address on the check and I ripped that up, took a picture of it and sent it to him that same night. The next day he told me he was going to sue me for not following the promissory note. The note only had some information of the vehicle not all. Just the Make, not the model or vin. It did have an amount but didn't say how he was going to get that to me, through a lender or personal check, nothing. Can he legally sue me? Can the seller back out of a promisorry note on a vehicle?
1 Answer from Attorneys
You can back out but he can sue you for specific enforcement of the contract. A court will have to decide whether the contract is legal and binding. You should read the promissory note to see whether if you are sued and lose you have to pay attorney fees for the buyer. Then wait and see if the buyer actually sues. If he does sue, then decide whether going to court is worth the difference between the sale price and the cost if attorney fees and the car in case you lost.