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defaulting buyer
If mt memory serves me I read on ebay that a 'buy' constituted a binding contract. If indeed that IS the case what are the consequences to a buyer who buys and then defaults?
Thank you in advance for your response.
1 comment
eburtonlab
Mentor1 year agoTypically if a buyer commits to a purchase but does not pay, the seller keeps the item and can cancel the transaction for nonpayment after four full days. The buyer's account gets a nonpayment strike if that happens. With two or more nonpayment strikes in a certain period of time, the buyer can be preemptively blocked by any seller that sets their buyer requirements strictly.
The seller can also block the buyer directly from using that account to make a purchase from that seller in the future.