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Originally Posted by Joachim
I could be totally wrong, but didn't he have a legal binding contract when he took the deposits?
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I think those who want to apply contract law to this situation need to take a step back and evaluate their views.
#1 I'm not sure contract law applies, and think that it does not, but for kicks, let's say that it does.
#2 Should he have kept the deposits, hired a bankruptcy lawyer, and let those who wanted their deposit back, hire their own lawyers and get in line with the bankruptcy proceedings? Then he could've re-incorporated and gone about making frames, just as he'll be doing today. It would be all legal and tidy that way. But unethical.
#3 By accepting their returned deposit, they agreed to cancel their "contract".
By all acccounts he closed his business and was done. This wasn't an attempt to extort those on his waiting list into paying more. I think the way he handled it was ethical and honest. I can't believe that people anywhere could suggest otherwise. I'd rather do business with ethical people, than those who use the law as cover for their unethical behavior.
Legal, but unethical