I need a legal Advice please

[Dice]

Hi
I recieved an offer with sedo and i agreed to sell for 150 eur on 2007-10-26 and did not receive the money yet.and I gave sedo the tranfer code, and Due to ICANN regulations a domain cannot be transferred within 60 days of registration or prior transfer. so the transfer was delayed.
Note : the buyer is a huge company that has the same domain (.)com mine is (.)net
Yesterday I received 2000 usd offer for the same domain from a friend.
and I just received the transfer request email today from the first buyer registerer. what should I do ??

Can I cancel the first sale ????
can I just sale it and transfer it to my freind ??? what could happened ???


Dice

 

[DNQuest.com]

Ethics and contracts, read up of them please.

 

[Dice]

DNQuest thanks for your time but My Question is can I cancel the first sale since I didnt receive the payment for more that 3 weeks since the domain was unlocked and code sent ???

if you think that I am morally obligated for the sale say it and I will make the transfer.

and abouth the note that its a huge company I didnt know the 2nd buyer told me that.

I only sold 2 domains before and both payments received within a week


Dice

 

[mwzd]

Dice, what DNQuest is saying that by agreeing to the first sale you have pretty much ethically committed to sell the domain at first price.

What you do or do not do is entirely dependent on your ethics.

Though once you agree to sell the domain you do electronically sign a contract, leaving yourself liable on that front, specially if you bypass it through another sale. Can you really afford to not sell ever again on Sedo?

If the company comes after you for the domain it might be a lot more expensive than the 2k you 'might' get.

Why do I say 'might'...because your 'friend' is going to try and peddle it to them for a much higher price, which they might not be willing to pay.

It can snowball into something bigger than it is as far as the cash is concerned.

What you do eventually is dictated partially by the risk you're willing to take and what your conscience actuallys tells you.

As far as I'm concerned, I just see my roi, not what I 'could' have made if I'd made the sale to the end user.

Your friend is really not a friend if this is the advice he's giving you. Where was he all this time it was listed on Sedo?...

Do note, by selling outside the contract, your liability is neither removed nor bypassed and your friend, by buying the domain, is as liable.

 

[DNQuest.com]

Legally you are subjected to SEDO's TOS, you entered a contract. Some deals do take time. Ethics is breaking the contract to sell at a higher price. This can follow you in future sales, especially if forums catch wind that you will break a deal because you got another offer. That means your words means nothing.

I bet you like my first post better now

 

[Dice]

I really appreciate you help

I thought since the contract stated that payment must be received within 5 days that would make the contract void and they buyer would be the one who broke the contract. Anyway when I asked " if you think that I am morally obligated for the sale say it and I will make the transfer." I was not shouting I was really asking for your answer coz i see alot of posts about buyers falling to pay and the seller auction the domain Again soon after , which made me think that how it usually goes.



Dice

 

[evilopinions]

I really appreciate you help

I thought since the contract stated that payment must be received within 5 days that would make the contract void and they buyer would be the one who broke the contract. Anyway when I asked " if you think that I am morally obligated for the sale say it and I will make the transfer." I was not shouting I was really asking for your answer coz i see alot of posts about buyers falling to pay and the seller auction the domain Again soon after , which made me think that how it usually goes.



Dice

If a big company is involved then it usually takes a long time for finance to release it...But even though if they took their time to pay the money at their will then u have ur will too....

I had say morally it would be incorrect to just sell the domain to ur friend...

 

[IAmAllanShore]

Is the 5 day rule not for the buyer? Do you have any reason to believe that the buyer did not pay in 5 days and it wasn't just Sedo/you holding things up since you couldn't transfer the domain name?
Best of luck,
-Allan

 

[Ronald Regging]

The buyer usually has 7-10 days to pay. If they don't pay within that time (I forget the exact time frame), then Sedo will cancel the transaction. If you are at the stage where Sedo is asking you to transfer the name, then that means that buyer has already paid. You dont get the money until the transaction is complete.

 

[Dice]

I already Authorized the transfer. Thanx for the help

 

[smashfactory]

you said the domain could not be transferred for 60 days- it was a new reg, yes?
that is why- not because of payment-
when i reg a domain and sell it before 60 days is up, i tell sedo and we usually push it not transfer- but you have to say that-

 

[DNQuest.com]

5.1.2.4. Auction Period and transfer

During the Auction Period, the highest offer made on a particular Domain will be indicated on the Bidding Page via Sedo’s website. Sedo customers can then enter the Auction by placing higher offers. All offers will be construed as firm offers to buy the Domain for the offered price in accordance with the conditions of the purchase and sale agreement for the Domain.

If no offer is made during the Auction Period and the Auction was not cancelled by Sedo or otherwise, a legally binding contract exists between the Seller and the potential Buyer who placed the last bid before the Auction ends. If valid higher offers are placed during the Auction Period, and the Auction was not cancelled by Sedo or otherwise, a legally binding contract exists between the Seller and the prospective Buyer who placed the highest bid as reflected at the end of the Auction Period. This contract exists even if the Sedo bidding page is not available at the end of the Auction Period.

After the Auction Period ends, the transfer of the Domain or Web Project will be facilitated by Sedo in conjunction with the Terms and Conditions of the Sedo Escrow Service as described in Section 5.2.

SEDO does not state how long the buyer has to pay. But if there seems to be no action with the auction as far as payment in received, then you need to petition SEDO to cancel the auction. Once the auction is canceled, then you are free to do as you wish. I would assume SEDO would reject canceling an auction unless a long period f time has lapsed. I would assume 30 days or so. But it appears to be up to SEDO to decide that for you.

 

[smashfactory]

it has nothing to do with sedo- they only ask you to transfer after they have received payment- he said they asked for the transfer code- the domain could not be transferred out due to the 60 day registrar rule- not sedo- once the domain is transferred he will get paid- but if a domain sells within 60 days, you need to tell sedo you need to push it-

 

[scrsteven]

SEDO does not state how long the buyer has to pay.

In the sedo contract when you agree to a sale, you will see in #3 part e:
e) Payment must be remmited to Sedo with five (5) business days from the creation of the payment request.

Thus, if the buyer doesn't pay within 5 days the seller can back out as far as I know.

 

[DNQuest.com]

Then it would be SEDO's option to cancel the auction if they desired, not the seller.