Seventh Draft – CD/17/723146 35
the purchaser or acknowledged in writing that this amount
has been credited towards the total purchase price—
whichever first occurs.
(4) The seller must not, without the prior written consent of the
purchaser, sell or agree to sell the trade-in vehicle before delivery
of the purchase vehicle to the purchaser.
(5) Where the amount allowed on the trade-in vehicle has been
reduced by an amount to be paid by the seller to discharge the
interest of any other person in the vehicle, the seller will pay this
amount to the other person within 28 days of delivery of the trade-
in vehicle to the seller.
Termination
5. (1) Where this agreement is lawfully terminated by the seller due to a
breach of this agreement by the purchaser then—
(a) the purchaser must forfeit the amount stated in this
agreement to the seller provided that amount does not
exceed 5 per cent of the total purchase price; and
(b) where an amount has been paid towards the purchase price
and that amount exceeds the forfeitable amount then the
seller must—
(i) refund to the purchaser so much of the amount paid
that exceeds the forfeitable amount; and
(ii) return any trade-in vehicle to the purchaser; and
(c) where an amount has been paid towards the purchase price
and that amount does not provide the seller with the
forfeitable amount and a trade-in vehicle has been delivered
to the seller then the trade-in vehicle may be forfeited to the
seller and the purchaser credited with the net trade-in
allowance. If this amount and any other amount paid by the
purchaser exceeds the forfeitable amount then the excess
must be refunded to the purchaser.
(2) Where this agreement is lawfully terminated by the purchaser due
to a breach of this agreement by the seller then the seller must—
(a) refund to the purchaser all money paid by or on behalf of
the purchaser; and
(b) return any trade-in vehicle to the purchaser.
(3) Where this agreement is lawfully terminated by either the
purchaser or the seller due to clause l or for any reason other than a
breach of this agreement then the seller must—