The news on auction SG cars for $1?!

last SG · 2006-01-28T15:48:44+00:00

i dun think convetional law textbooks would have topics on online auctions.

the Bear SG

unscrupulous greed and capitalising on others..

hmmm.. isn't that what Capitalism is all about? Laughing

alexkusu SG

depends how the authority administer the Consumer Gurantees Act and Contract Law in sg. If they take a dim view of it, then he cant do anything lor..

charlize SG

Isn't the ad still running? There is still a countdown timer counting down the number of days for the bidding to end.

Anyway, if the seller eventually decides not to sell, he can always get his friend to deliberately bid an exceptionally high price so that nobody will want to match the offer.

Right? Laughing

charlize SG

Oops.

My bad.

The above link is for the bicycle. Laughing

stellazio SG

time to take up my blaw textbook.. Laughing

nightzip SG

huh? tot the bid must close then the person go down to check the car in the news right?

you mean the person go down to check the car while the bid is still on-going? Laughing can be also, just to check out quality of car...

but tot the news said he already got the bid?

TooFree SG

The autioneer did gave an invitation to treat and is not consider an offer to hold it. At any auction, any bid that follows is considered as an offer. It might be interesting to note that, the sale is complete when the auction closes or when the 'reserve price' ie buy price is met and hence going into a legal contract.

In all fairness and equity, the defendant may put up a defence on Unilateral mistake only if the seller knows that the buyer is mistaken concerning the offer. As far as such ruling is concerned, equity follows the common law and regards such contract as void. Wink

gentlerock SG

Forget about contract law lah.....I already wrote that this buyer is an angmoh, you all never get the hint?

Remember some years ago, one angmoh knocked down some Koreans near IKEA? Who was in the wrong? Angmoh was finally found innocent right?

Remember recently, this angmoh anyhow cross road and got knocked down by a local? Who won? Local must pay angmoh right?

So this case of the S$1 car.....its angmoh (buyer) versus local (seller). So if the case goes to court, what do you think leh?

Ito_^ SG

O I see. So its most likely the seller would go scot free lar?

gentlerock SG

Wah, I see that you all are very honest people.... Laughing

If it were me, I'd quickly dump all my assets to an existing sister/mother/daughter company, then close down the current company before the lawsuit notice comes.

Then I'll continue trading from the existing sister/mother/daughter company till I can start another one to work from....

(Most car traders have existing sister/daughter/mother companies - for protection in cases like these).

the Bear SG

actually, this is different..

an auction like this, it is an offer... by putting it up without a reserve price would mean that he is going to sell it to the highest bidder...

in fact, by putting it in yahoo auctions, there are terms and conditions in there which state that you have to honour whatever you put in there..

it's a contract when the auction closed...

the guy who put up the car could have pulled out anytime before the thing ended.. he did not... neither did he put in a reserve price...

it would be time for him to bear the consequences of his action...

in the mean time, what do you think of the other $1 cars in yahoo auctions?

Darkness_hacker99 SG

I think the seller wants to type $100,000 but because of the Lousy computer, he typed $1 and pressed Enter key.

tomsss SG

$100,000 for a 2nd hand WRX? mai siao lah ahahaha…. eh wait possible hmm…

HolySniper SG

it's possible for him to get the car cos the contract is there... some biz law student oso say the buyer will win the case... the seller has no case to prevent the sale.. Laughing

Ito_^ SG

yahoo admin sux0r. i dun trust yahoo, especially on pricy stuff like cars.. heck, above 50 bucks i rather buy at ebay.

browniebaobao SG

u study blaw too?

im taking it this sem.

nightzip SG

well, in engineering, we do Law of Contract and Law of Tort, plus all the fundamental stuff, like institution, bills to act, parliament stuff. Rolling Eyes

Oh...i still maintain my stance that he will not get the car. If i am the judge, will even maybe cane him. Twisted Evil since he ang-moh, wanna capitialise of locals, plus 2 months imprisonment and fine 10k to warehouse. Laughing

s0ftdr|nk SG

erm....

offer - the car agent did make an offer at NO min price to sell the car in the AUCTION. So, at $1 , it is still a price being offered by the ang mo.

acceptance - Well, the ang mo did accept the offer by bidding the price.

consideration - something for something, $1 for the car

intention to create legal relations - Well, it is in the auctions!

Some years ago, i did ask my law leacture about this question out of the blue. Eg, If happen to be i have buy a car ( normal price $100,000) but it is written in the contact that it is sold to me for $10,000, a mistake by the agent which he left out one zero, how would he think the chances of which the judge will award me with the price is $10,000?

Ans: In the text, i have a sure win case as i have all 4 points to make a legal contract and the agent might have wanted to sell my the car at $10,000 because we were friends or out of goodwill? But, pratically, it all depends on how the well lawyer were to fight this case.

What i think is that the only hope for the car agent to win this case is that they can say that the auctions were not set up by them but others and was a sabotage case.

Well, i am not a lawyer and have not touch my B.law book for years. This is what I could remember from my books last time.

tofushop193 SG

i am twat's keyboard

Ponders SG

Well, i guess every case is unique in itself.

I am very sure the seller will bring out that Epson Printer case as precedent.

But in the Epson Printer case, one thing was sure is that the buyer knowingly ordered a number more than he required as he knew he is getting a bargain from the erroneous price.

The Seller was able to convince the judge that it was a genuine error.

The buyer in the printer case was clearly exploiting this error.

Whereas in this WRX auction...as mentioned in the newspapers was that the seller may need to convince the judge that it was a bona fide error.

But i feel that his/her case might be weak IF s/he have in the past always does bids at $1 without reserve price.

Plus, yahoo auctions have clearly stated the difference of a reserve price auction and one without. There are already a few checks in place before the seller can place an auction erroneously.

The buyer in this case, whether or not he is trying to exploit the auction, he knows that the seller have an obligation to sell whether there is or no reserve. Whether or not he is trying to take advantage of this bid is irrelevant as the seller had their onus to check whether the auction they are putting up is free of errors.

I really think this case is really up to how well they can convince the judge.

I am rooting for the Buyer in this case.

But one big disadvantage for the angmoh.... how is he going to insure his car?

Insure for $1.

next time he kena highway missile and windshield crack, the entire car must write off. hahaha.

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