If I made a contract to purchase a vehicle butlater found that out that the insurance rates were too high, can I terminate it?

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

If I made a contract to purchase a vehicle butlater found that out that the insurance rates were too high, can I terminate it?

Can I terminate the contract under this provision?” If neither party delivers written notice to other, then either party may terminate this contract and Buyer shall be refunded the deposit, there by releasing buyer and seller from all further obligations under this contract”.

Asked on September 8, 2011 under Business Law, Florida

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

It's impossible to say whether you can terminate or not based on the language you quote--a contractual term cannot be viewed in isolation or out of context. You should have an attorney review the entire agreement for you, if you are not sure of what it means.

That said, there is no general right to terminate a vehicle purchase agreement becaue you find that insurance (or some other cost) is too high; but if the contract itself allows termination without penalty under some circumstances, as long as those circumstances are met, you can terminate. You should therefore defintely consult with a lawyer, who can review the entire contract in context with you. Good luck.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption