Broker problem

[Observer]

(not sure about observer, not too keen to read that one , dare I take him off ignore to look ?.)

Depends how you feel about reading reading home truths. It matters not to me.

I have no interest in debating with you because you lack either the wit or the honesty (or both) to maintain a consistent position. Your posts are almost invariable riddled with contradiction and ambiguity. I don't respond to your posts for your benefit but to try and bring some clarity, for the benefit of others who may genuinely be interested, to the issues you consistently manage to twist, through ignorance and prejudice, into some bizarre "World according to DAKA".

 

[fireball]

Boat buyers are generally the smarter end of society.

Hmm - really?!

the (small) issue is (some) brokers giving "advice" to a purchaser who is trusting the broker to give open and honest information - which in some cases is just steering the purchaser towards buying what the broker has for sale. It is a fine line between steering by extolling the virtues of the boat and deceiving a purchaser by stating that the vessel is suitable for something it isn't.
Perhaps in the OPs case, the broker did believe the boat was suitable for traillering - but he should perhaps have covered his own arse a bit better by suggesting the purchaser checked it out. I still think the broker should offer to re-market the boat at 0% or hugely reduced commission as a gesture of goodwill.

 

[Wiggo]

But we don't have anywhere near enough info to conclude that. What we do know from the OP is that his friend told the broker that he wanted to tow the boat around. He did not appear to ask for a suitable boat but announced his intent. The advertised weight confirmed that it would be OK to trail. The broker did not supply a trailer, but 'arranged to find' a second hand one.

I can envisage the broker being asked to confirm that at 2700kg the boat could be towed. I can envisage the buyer asking if the broker knew where he might get a trailer, and I can envisage the broker suggesting someone who may have a suitable one.

We really can't infer any liability on the broker's part (moral or legal), as far as I can see.

I am happy to admit that in the past I have rushed into an ill-advised purchase, without adequate research, and subsequently come to regret it. Anyone one here care to deny ever having done the same?

 

[jfm]

But I am happy to admit that in the past I have rushed into an ill-advised purchase, without adequate research, and subsequently come to regret it. Anyone one here care to deny ever having done the same?

I'd admit to the same. Often! Indeed, I'd include putting a couple of grand on the red at a Las Vegas roulette table in this category of transactions. But we both know we're taking a flyer when we take a flyer, and know that if/when it goes tits up then it's our probem and we accept we have no business blaming someone else or asking for the state to protect us from ourselves

 

[gjgm]

or asking for the state to protect us from ourselves


*****
so, we can conclude you are not in banking then, JFM ? !!

 

[jfm]

or asking for the state to protect us from ourselves


*****
so, we can conclude you are not in banking then, JFM ? !!

Yes, that's correct. I'm not in banking, have never lent money or traded/structured derivatives. I've advised many borrowers to borrow colossal sums of money, billions, like Formula 1 and Man United, and they're all performing fine on their loans, thanks

The banking thing is a whole other debate. But just so the facts are striaght on the subject of state bail outs, the total amount of bailing out both in UK and world aggregate is a small percentage of the taxes the financial sector has paid in even the last 10 years. If you live in the UK, despite the bailouts (many of which are non cash by the way) the reason you have hospitals and roads and only pay 20-30% income tax if you are Joe Average is becuase of the taxes paid by the finacial sector. No other sector of the UK economy comes close to making the tax contribution of finacial services in ther last 20 years

 

[Firefly625]

...just read complete post from start to finish...do I get a prize?

I feel I deserve one...

 

[Firefly625]

my advice (save the legal wrangling bit).... sell the bloody trailer, get the boat transported by commercial boat movers to your home or to a local boat yard assuming there is some water nearby....... Spend a couple of months making it look great.... the few months spent working on the boat would be a good learning exercise.. then sell the thing and this time do some proper research before buying anything else!!

.... it would save everyone here a lot of typing that's for sure!!

 

[Tranona]

That isn't really right Tranona, unless you take a very narrow meaning of "legal responsibility". The broker has responsibilities/potential liabilities to the buyer in tort, if not in contract. And more importnatly, if the broker is vendor's agent*, which as you rightly say he generally is, then what he says/does/represents generally binds the vendor (in contract as well as tort)

Yes, but I think you will agree it is much more difficult to make an action stick compared with contract, so better to assume the "narrow" interpretation. Big difference between "here is the manufacturer's brochure with the weights on it" and "of course guv, no problem towing that boat (previous owner did it all the time)"!

Would be interesting to know if there are any cases on this point. Not that I am offering to find them!

 

[gjgm]

is becuase of the taxes paid by the finacial sector

but it wont be that paying much going forward...whether the institutions or individuals.Unfortunately.

 

[MapisM]

The banking thing is a whole other debate. But just so the facts are striaght on the subject of state bail outs...

It is, but I can't resist to contribute to a bit of drifting because your point is indeed interesting, and I doubt that it really sets the facts straight.
Without entering into the technicalities, imho it's not fair to say that the globall P&L of financial sector remains positive in spite of the bailouts, because its tax contribution has been relevant in the past.
The way I see it, that has been (mainly) a shifting of profits (and hence taxes) from other industries to the financial sector.
Otoh, I agree that for the UK specifically the benefits have been higher than the costs, because of the London financial shops, but then again, in macroeconomic terms that's also a shifting of profit, just in this case a geographic one.
Either ways, whenever the subject "cut the middleman" is raised, the first and largest middleman of modern days which pops to my mind is the financial sector, not yacht brokers and the likes...