Q: Am I liable to pay back accounting error?
I purchased a car for a reputable car dealership. When purchasing my car, they agreed to pay of my existing car loan in the amount of $2480. That was the amount I signed and agreed to on all of my paperwork. I got a letter in the mail today saying that they sent the bank a check for $2840 in error and they are asking me to pay the difference. Would I be liable for their error when I signed for a different amount and the money did not go to me but the bank? The payoff amount that we agreed to was correct, they just sent the wrong amount. Shouldn’t they be fighting it with the bank not me?
A: There should be a refund of $360 form the bank, since they were over paid. If and when that $360 comes back to you, I think you'd owe it to the dealership.
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