Do i have to pay ? Strange situation.

~Brock~

Treadmill wrote: »

Payment was offered in the form of a signature on a credit agreement which is as good as cash, If the OP had paid cash which was subsequently lost by the Bike shop, would you expect the OP to pay again ?

No of course I wouldn't, because the OP had paid for it. In the current scenario he hasn't paid for it because the credit agreement hasn't been created.

Treadmill wrote: »

Money is created when people sign credit agreements, in this case, money was created and then lost through incompetence.

Are you for real mate? I'll say this slowly....T H E R E I S N O C R E D I T A G R E E M E N T ! ! !

No money has been created!

Treadmill

Going on what the OP has said an agreement was signed at the time of the original purchase, but wasn't processed correctly... not the OPs problem.

As soon as you sign an agrement is created, an agreement to exchange future earnings with a premium attached for the goods, its only the responsibility of the person signing to read it and sign it, its the responsibility of the Garage to exchange it for cash from the finance company who will charge a premium for releasing the cash straight away and risking default.

At no point is the person signing the agreement expected to help process it.

It might not be to everybodys taste to wriggle out of obligations, I know some folks are against getting unenforcable debt written off (not Martin, hence my loophole comment) but I think the OP will be able to keep the goods if he stands by his guns, its certainly happened for larger purchases including houses

BigDave81

Treadmill wrote: »

its certainly happened for larger purchases including houses

I would love to see the evidence of someone getting a free house as the mortgage was null and void, please can you provide? Thank you

DrScotsman

Wow, some of you are daft.

There is an implied/verbal contract between OP and dealer that he will pay for the bike ("pay for" including getting a finance company paying for him and similar). What exactly has happened that has removed this obligation from the OP? Nothing!

The dealer is obligated to make sure that he does not lose anything by their mistakes, however he's not lost anything really, except maybe 50p for his time or petrol :rolleyes:

I am all for people getting debts unenforceable , however sadly to the OP I am not for stupidity.

Once_bitten

Never ever underestimate the greed and stupidity of large sections of the Great British public

Snakeeyes21

No judge would rule in the favour of the bike shop without a valid signed credit agreement, what would stop the shop taking anybody to court claiming they owed money if they didnt have to prove an agreement was in place?
and its not theft, its a dim shop worker who has given away a bike.
even though it wouldnt be enforceable in court, i wouldnt want to be in your shoes when a group of burly bikers turn up.
id rather pay up than have to eat through a straw for a year.

vaporate

It's technically 'stealing'. Nothing is for free.

Mr_Matey

You could always offer to buy it second hand off them.

Grovester_2

Treadmill wrote: »

Payment was offered in the form of a signature on a credit agreement which is as good as cash, If the OP had paid cash which was subsequently lost by the Bike shop, would you expect the OP to pay again ?

Money is created when people sign credit agreements, in this case, money was created and then lost through incompetence.

If the OP had paid cash he would have what they call in the trade a "receipt".

This little document would be sufficent to prove to a judge that payment had been made.

As the shop worker lost the document the judge would still ask for evidence that the debt is being paid, as no money can be seen going from the OP to either the shop or finance house it's fair to assume he has not yet paid for the goods.

sp1987

Treadmill wrote: »

As far as I can tell without a signed credit agreement you do not owe them anything, its not theft as the bike has ben signed over to you so don't worry about that.

Its an error in your favour, make the most of it

Incorrect.

The credit agreement excluded, the OP has been unjustly enriched to the tune of a bike which no judge would allow.

It is up to the OP whether he would like to sign a credit agreement or wait for his CCJ. An unsigned credit agreement could not be enforced but the lack of consideration provided for the subject matter of the contract is a pivotal point on these facts. The OP needs to return his bike or pay to keep it. I am assuming he does not have money to throw away having needed finance in the first place, meaning he is not in a position to cover the dealerships legal fees in relation to the matter when they obtain their CCJ.