Hi guys, I recently actively marketed one of my best generic dotcoms..
Had 3 end user bidders and so as the dutch auction progressed I told them all that the 1st to offer me $XYZ I would sell at this price...
Soon, i had 2 of the bidders offering me the amount i asked, one of them saying that they had a second choice domain that they were interested in so their offer was only valid for 3 days after which they would take this 2nd choice domain.
Now, because they were second to bid and in the interests of fairness i took the offer from the 1st bidder. However, after several emails between us where we finalised the transaction i.e him saying how he agreed to the amount and how he would send a cheque (for he didnt like escrow), it has not turned up and he now doesnt reply to my emails.
I have since contacted the 2nd party involved to which they said sorry, they now have their domain. So I have now had to go cap in hand to interested party no.3 who, because of the circumstances, is only prepared to now offer $1000 less than what he was willing to pay in the 1st place. This is $1500 less than what I agreed with buyer no.1.
So my question is, do I have any comeback on the person who agreed to buy the name in the first place?? I dont know much about contract law but it seems to me that there was offer, acceptance and consideration in this contract??
Had 3 end user bidders and so as the dutch auction progressed I told them all that the 1st to offer me $XYZ I would sell at this price...
Soon, i had 2 of the bidders offering me the amount i asked, one of them saying that they had a second choice domain that they were interested in so their offer was only valid for 3 days after which they would take this 2nd choice domain.
Now, because they were second to bid and in the interests of fairness i took the offer from the 1st bidder. However, after several emails between us where we finalised the transaction i.e him saying how he agreed to the amount and how he would send a cheque (for he didnt like escrow), it has not turned up and he now doesnt reply to my emails.
I have since contacted the 2nd party involved to which they said sorry, they now have their domain. So I have now had to go cap in hand to interested party no.3 who, because of the circumstances, is only prepared to now offer $1000 less than what he was willing to pay in the 1st place. This is $1500 less than what I agreed with buyer no.1.
So my question is, do I have any comeback on the person who agreed to buy the name in the first place?? I dont know much about contract law but it seems to me that there was offer, acceptance and consideration in this contract??
