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Seller's legal stipulations. Necessary?

G Guest
Just saw a Pantera currently listed on ebay. The seller has put his "legal" stipulations
on purchasing the car. Is this guy paranoid, an attorney or what? What do you make of this...?

All disputes arising out of or resulting from this sale shall be finally determined by binding arbitration in Austin, Texas in accordance with the commercial rules of arbitration of the American Arbitration Association. The arbitration shall be carried out by one or more arbitrators in accordance with said rules. Any award shall be enforceable in any court of competent jurisdiction in the same manner as judgments. This agreement to arbitrate shall survive the sale of the automobile described herein. Buyer and Seller hereby agree that Texas law shall control for all purposes under this Bill of Sale. Buyer and Seller hereby consent to the personal jurisdiction of the state and federal courts of Texas to specifically enforce the agreement to arbitrate and to enter judgment of and enforce the award of the arbitrator.

http://cgi.ebay.com/ebaymotors/Other-Makes-1971-DeTomas...mZ320011139833QQrdZ1
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accobraaccobraMember
I agree ... but arbitration is a better solution rather then the dispute ending up in a COURT. At least arbitration will be decided by a professional or group of professionals in the Field in which the dispute falls.

Hes paranoid either he has been burned once or maybe twice. He is either an attorney or a smart business man. Only one thing bothers me is you would have to deal with this in TEXAS and if your not from Texas plan to make some trips if there is a dispute.

I use the same stip in my Proposals as an HVAC contractor. In reality it protect both parties ... its cheaper to resolve a dispute in arbitration then it is in court by a long shot. Arbitration once filed has to progress on a time schedule. COURT they will drag this dispute on for years. SOme people use that as an advantage.

My 2 cents.

Ron
Views: 71
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