By Michael R. Jackson, Shareholder
The German purchaser of a sailing yacht sought to rescind the contract, but encountered difficulty – necessitating legal intervention on his behalf by Jackson Law International.
Dr. M.V. (initials are utilized to safeguard the privacy of our client) had entered into a Vessel Purchase and Sale Agreement with Florida’s leading yacht brokerage to purchase a sailing yacht. Per Section 3 of the Vessel Purchase and Sale Agreement, Dr. M.V. was permitted to inspect and examine the yacht before purchase. Furthermore, Section 8 of the Vessel Purchase and Sale Agreement stated that the agreement was subject to a trial run and a personal inspection that was acceptable to the buyer. Lastly, Section 5 of the Vehicle Purchase and Sale Agreement stated that the yacht brokerage should return the deposit to Dr. M.V. if he did not purchase the yacht. Despite the efforts of this German purchaser of a sailing yacht to rescind the contract and secure the return of his sizable deposit on the yacht, the yacht brokerage refused to do comply with the terms of the Vessel Purchase and Sale Agreement.
Consequently, Jackson Law International was retained by Dr. M.V. to represent him in efforts to formally rescind the contract and obtain the return of his funds that he had expended. Following a demand letter, an amicable settlement was reached with Florida’s leading yacht brokerage before a formal lawsuit became necessary. As a result of Jackson Law International achieving this highly favorable settlement, Dr. M.V. was quite pleased with the result.
If you require assistance with respect to a contact involving the purchase of a yacht or other seagoing vessel, we would welcome the opportunity to discuss your case with you to determine whether you also might have a viable claim against the seller.
We encourage you to explore our website to learn more about Jackson Law International, its attorneys, and the firm’s practice areas.
International Litigation typically presents the courts, attorneys, and parties with unique challenges that fall outside of the general experience of law firms that have not routinely handled such matters. Our international experience allows us to assist clients and other law firms in international matters, and the firm looks forward to the opportunity to put that experience to work for its clients.
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© Jackson Law International 2018