Spot Delivery Law and Mortgages Essay

Tags: aig car consumer rights financing insurance law loan risk

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Total Length: 810 words ( 3 double-spaced pages)

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Page 1 of 3

Part I



Relevant Facts



The facts that are relevant to Benner’s spot delivery claim are (Session 6: Buying a Car):



1) On January 13, 2016, Plaintiff bought a 2012 Chrysler 300 (“the vehicle”) from Defendant



2) When Plaintiff bought the vehicle, she signed a retail purchase agreement and a retail installment sale contract. See Exhibit 1, “Contract.”



3) According to the contract, the Plaintiff agreed to a total sale price of $29.860.80. 10. Of the $29,860.80, $300.00 was a dealer processing charge.



4) The interest rate on the contract was 23.25 percent.



5) On January 13, 2016, Defendant told Plaintiff that Americredit Financial Services Inc. (“Americredit”) would be financing her vehicle.



6) As part of the retail installment sale contract Defendant assigned his interest in the vehicle to Americredit.



7) That same day, Plaintiff and Defendant signed an “Agreement to Provide Insurance” that indicated that Americredit required

the Plaintiff to obtain insurance for her vehicle and to show Americredit proof of insurance.

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8) On January 13, 2016, Plaintiff paid $1,000.00 as part of her down payment on the vehicle.



9) On February 12, 2016, the vehicle was titled under Plaintiffs name and on the title Americredit was identified as the secured party. Exhibit 2.



10) On March 17, 2016. Defendant contacted the Plaintiff by phone notifying Plaintiff that Plaintiff needed to return the vehicle because Defendant was unable to obtain financing.



These facts clearly show that the plaintiff had the vehicle for more than 4 days, which is all that is allowed to the dealer to find financing. In this case, the dealer went for more than 2 months before trying to cancel the deal. At that point, the deal was already well in place and could not be canceled according to spot delivery law. The dealer violated the contract in trying to take back the car. The dealer gave the buyer the impression that Americredit was the financier and that impression lasted well beyond the initial four days—and yet as.....

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References

Session 6: Buying a Car. Session 6 Materials.

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"Spot Delivery Law And Mortgages" (2018, March 18) Retrieved June 4, 2026, from
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"Spot Delivery Law And Mortgages" 18 March 2018. Web.4 June. 2026. <
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"Spot Delivery Law And Mortgages", 18 March 2018, Accessed.4 June. 2026,
https://www.aceyourpaper.com/essays/spot-delivery-law-mortgages-essay
   

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