The terms and conditions in contracts are often overlooked, dismissed as the fine print that no one really reads. However, these clauses are far more important than they may appear at first glance and failing to review them carefully can lead to serious consequences.
For instance, if you work with finance companies when selling vehicles, you may encounter indemnity clauses. These clauses can make you liable for losses the finance company incurs if a customer claims the vehicle is faulty, including any refunds paid to the customer. Additionally, some contracts may impose obligations that exceed those under the Consumer Rights Act 2015. For example, you might be required to bear the cost of obtaining an inspection and a report to dispute a customer’s claim.
What about buying a vehicle as a trader from another trader? In that case, the Sale of Goods Act 1979 applies. However, many traders limit or exclude the Act’s implied terms in their own terms and conditions, where the law allows. This means that if the vehicle you purchased turns out to be faulty, you may be left without recourse.
Although reading terms and conditions may seem tedious, it is essential to understand the obligations and risks you are agreeing to take on. If you are unsure about any clauses, seeking legal advice can help you avoid being caught in a difficult position. Taking the time to review these details can save you from unexpected liabilities and ensure that your rights are protected.
If you have faced a similar issue or want your finance and supply agreements sense-checked, our legal team at Lawgistics can review your terms or assist with disputes through our telephone helpline and casework service.
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