Rewritten contract backdating
(January 20, 2017) – Founding attorney Larry Miles helped close the sale of two major auto dealerships in Anchorage, Alaska, recently.“I’m honored to have been involved in the sale of Worthington Ford of Alaska and Mercedes Benz of Anchorage,” said Larry.The Court found that consumers were entitled to have their claim satisfied under the CLRA, which includes attorney fees.The parties to a bond dispute often agree on how to distribute the ,000 bond.“This memorial is also a fitting remembrance of Cal.” The Welcome Center will greet Museum visitors with clips from Cal’s talk on flying B-17’s during WW2 which he gave at the Museum in 2013, as well as some of his famous TV commercials, including one where he wing-walks upside down on a bi-plane.
The award is based on confidential peer assessments of other Sacramento attorneys. “I am so thrilled to be a part of establishing a scholarship in Cal’s honor that will help deserving kids finish their education,” Larry said.However, dealers should review this issue with their lenders and not assume that lenders will reject deals with deferred down payments.Most lenders today will accept contracts that disclose deferred down payments so long as the deferred down payments are properly disclosed and collected prior to assignment of the contract.However, a recent Appellate decision demonstrates that dealers who fail to disclose deferred down-payments on their retail installment sales contracts are easy targets for lawsuits. It noted that the failure to properly disclose the deferred down payment harms consumers because lenders are misled into believing that the consumer has sufficient financial strength to make the down payment, as opposed to the reality of having to“defer” the down payment over a period of time.Thus, consumers are induced to enter into contracts for the purchase of a vehicle which they cannot afford.