[dbanks1098]

Not to long ago I bought an 01 yamaha r1 champions edtion from a friend of mine, which when I gave him the cash we Both agreed that if anything was wrong or I didnt want the bike he Would Buy It Back. I Purchased This Bike For $5,ooo. He Needed The Cash And I Thought I Wanted The Bike. The Next Day The Bike Is Making A Funny Sound, (which Turned Out To Be The Pre Cam Tensioner), Or Something To That Affect. Anyway, My Friend Tells Me He Will Take It To The Shop Where He Just Got A Rebuilt Motor Put In A Month Earlier And Will Get It Fixed. It Has Been A Couple Months And The Bike Still Is In The Shop. I Was Originally Told That This Was No Big Deal And Was A Snap To Fix, But It Doesnt Seem To Be So Simple. So This Friend Told Me He Will Give My Money Back To Me, So Believing In My Friend I Put A Deposit On The 1098 Base Model. Find Out Today My Friend Cant Pay Me Back Until He Sells The Bike Which Is Still In The Shop. No Matter What I Will Get The 1098, But As Of Right Now Im Out 6,ooo With No Bike (1,000 On The Deposit And 5,000 On The R1). What Im Asking Is What Should I Do? Take The R1 After Its Fixed And Sell It On My Own. Keep It And Have 2 Bikes. Wait For Him To Sell It And Give Me My Money. Take Him To Court (we Wrote Up A Contract That Probably Wouldnt Hold Up Anyway). I Really Just Want To See What Any Of You Think And All Opinons Are Welcome. Thanks For Your Time

 

[jamarben]

If he is a true friend, he will make good on the deal. But a signed contract may suffice if things get out of control.

 

[suryad]

Off topic but boy was your post hard to read with all the uppercase letters.

 

[Dibs]

Well, if you can afford to do with out the $5k I would personally keep both. That is, if the R1 is in good condition. No matter what you do, get the R1 back. It does not sound like your friend is going to be reliable enough to count on him selling it for you. You need to be the one in control not him. What condition is the bike in at the shop? Is it taken apart? If not, get it back and take it to a more reputible shop and take the hit on the expense for repair. This way you at least know it's being done right. my2c.

 

[Dibs]

Off topic but boy was your post hard to read with all the uppercase letters.

This guy is tring to buy a 1098...how's that off topic? Offer up some advise or don't post.

 

[Smeegle]

Well, if you can afford to do with out the $5k I would personally keep both. That is, if the R1 is in good condition. No matter what you do, get the R1 back. It does not sound like your friend is going to be reliable enough to count on him selling it for you. You need to be the one in control not him. What condition is the bike in at the shop? Is it taken apart? If not, get it back and take it to a more reputible shop and take the hit on the expense for repair. This way you at least know it's being done right. my2c.

I'm with Dibs...:yo:

 

[dbanks1098]

thanks dibs

 

[ZooQ]

I would see how bad this technical issue is and I would take care of the R1 by myself. It seems he has good intentions but he isn't reliable. Get the 1098 either way, but decide what to do with the R1 once its fixed, I dont think its worth taking him to court.

 

[dbanks1098]

Thanks ZOOQ

 

[paul sonderfan]

This guy is tring to buy a 1098...how's that off topic? Offer up some advise or don't post.

I think he was saying it was off topic to comment on the way the post was typed. In that regard, I agree, I gave up before reading the whole post because it was so distracting.

 

[ansman]

I don't know about this. It soulds a little shady. Is your friend, your best friend? You purchased the bike and the bike was making sounds right after, it sounds a little fishy.

I would do what dibs said. Get the bike back if it is working. If not, did you sign a bill of sale? I hope you didn't give him cash. The reason for my question is that if he doesn't get the bike fix and will not return your money. You can take him to the small claims court and you need some kind of proof.

 

[thekid]

sounds like a bronx tale

in the above mentioned movie the main character lends some dork $20. well the guy is always ducking him and running away. the main character is always chasing him trying to get his cash when a sage gangster played by deniro tells him 'for $20 you found out your buddy was a scumbag AND he is out of your life.' unfortunately for you, the cost has been a bit steeper, but i dare say you have learned a lot about your friend and in the end when you get the r1 back and sell it you probably won't make out so bad. i think your friend is a jerk and you were a bit naiive, but what do i know? get the 1098, sell or keep the r1, jettison the friend, lesson learned.

 

[DuanneB]

This guy is tring to buy a 1098...how's that off topic? Offer up some advise or don't post.

Actually, I think the other guy was just saying that the Way It Was Written With The First Letter Being A Capital Made It Harder To Read. That's All. :ahhh:

 

[mrinflux]

breach of contract

Not To Long Ago I Bought An 01 Yamaha R1 Champions Edtion From A Friend Of Mine, Which When I Gave Him The Cash We Both Agreed That If Anything Was Wrong Or I Didnt Want The Bike He Would Buy It Back. (we Wrote Up A Contract That Probably Wouldnt Hold Up Anyway).

dbanks

I'm not sure why you think the contact "wouldn't hold up". If you agreed to buy your friend's bike for $5,000 dollars and you gave him the money, then you have a contract. (BTW, there's no legal requirement that this agreement be memorialized in writing. Written contracts are easier to enforce, but oral contracts are binding also, (except for real-estate transactions, which must be in writing)).

The problem is not with the contract but rather with the rescission clause, the agreement that "if anything was wrong or [you] didn't want the bike he would buy it back." Unless a warranty is expressly provided, the sale of a used motor vehicle is "as is." Your agreement with your friend/seller that he'd buy the bike back "if anything was wrong or [you] didn't want the bike," is not a warranty, but rather, a unilateral right of rescission. Which is to say, you could essentially un-wind the deal at any time for any reason at all. It's worth noting that under the terms you delineated, your friend/seller had no similar right to rescind the contract.

The law frowns on rescission clauses, especially unilateral ones like the one you described in this case. They are considered unfair and unworkable and likely to cause problems down the road. (And you're living proof!) If you litigated this matter in court, the judge would likely find that you and your friend/seller have a contract and would rule the bike is yours. In other words: It's your bike, you paid for it. If you want it, go and get it. If you don't, then leave it at the repair shop.

But I think it's unlikely the court would enforce the unilateral rescission clause and order your friend/seller to re-take possession of the motorcycle and return your money to you. If your friend admitted that the problem with the bike happened just one day after you took delivery, and if your friend agreed that the terms of the rescission clause are as you state them, and if your friend was still willing to be held to this unilateral rescission clause, then the court might find him partially responsible for the repair costs. But that's a lot of "if"s. And in any case, if your friend agreed to all that, then you wouldn't need a lawyer or a judge to begin with.

My experience is that all parties to legal matters tend to leave the process dissatisfied. Nobody ever feels like they got what what was fair or right. The process is typically a compromise. That being the case, I always advise people to resolve their differences without court intervention if at all possible.

Good luck!

Elton

 

[Dibs]

I think he was saying it was off topic to comment on the way the post was typed. In that regard, I agree, I gave up before reading the whole post because it was so distracting.

My mistake.
Suryad, my apologies...

david-