See,

http://setexasrecord.com/news/296154-ga ... f-contract

Indeed. Trust but verify or in the case of selling any item of value, either wait to make the final transfer until funds are fully deposited or require partial payment up front and escrow for the remainder.

I also have to wonder if there's more to this story. It's in litigation, so the folks with the answers are pretty unlikely to comment. However, I have to think the the party who is being sued does not normally conduct business by saying "I'd gladly pay you Tuesday for a hamburger and two passenger cars today..." and then pretty much totally stiffing the seller. Per the lawsuit, they've paid about 2% of the agreed price.

Granted, I have not have any direct business dealings with them. However they're large and well known in the industry and that's not the impression I get. Unless it's a total scam, no business operates in that manner. So keep in mind there are almost certainly other details that we don't know.

Does anyone know which cars were involved in the sale??

Thanks in advance.

Show me the money, honey, or it don't move.

If the cars were at risk of being scrapped, I would say, they made a save, but better jimmee up.

I once assisted in repossessing a passenger car when it wasn't paid for. That gets to be fun.

The head of one of our best known railroad museums had this policy for dealing with movie companies, and it would be one best applied in cases like this as well: "The cars won't leave our location until the check clears." Nothing ambiguous about that kind of policy.