Author: Dennis Chapman
Published: March 8, 2011
Reading time: 1 minute
This article is 14 years old.
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Recently a number of finance companies have been seeking to claim back finance commission payments.
In many cases some smaller dealers have been dropped with little or no notice by the finance companies and are then expected to write a cheque for several thousands of pounds which the finance company believe is owed.
We have now had such a case go to the County Court and the Judge awarded in our clients favour.
The finance company tried to argue that there was a set of ‘implied terms and conditions in the way they and the client did business by ‘custom and trade’, and it was to an ‘industry standard’. The Judge was having none of this smoke screen and pointedly asked the finance company to produce a document which showed our client’s signature in acceptance of such terms. No such document existed.
The case is encouraging since a number of finance companies have sought to imply they have been very successful in such claims before, but we have not seen any such results.
