IGN: Shrinkwrap4me Users Involved in this Contract: @MinecraftParkerH General Purpose of Contract: MinecraftParkerH will buy my Efficiency V Unbreaking III Silk Touch I Diamond Sword, named Builder's Pride. I (the contract initiator) agree to the following terms, and agree that my failure to complete such terms will result in a breach of contract, as outlined in Rule 3: I, shrinkwrap4me, as the initiator of this contract will let the user MinecraftParkerH buy my Melon Sword under the condition he will give me, shrinkwrap4me $230,000 upfront. Then, pay $620,000 over a 4 week period. The other user(s) involved with this contract must agree to the following terms: MinecraftParkerH will pay me $230,000 upfront, then owe me $620,000 on a 4 week period for the Melon Sword, Builder's Pride. Failure to pay the remaining amount will result in breach of contract. If he happens to lose, sell, or break the Melon Sword, Builder's Pride, he will have to pay me, shrinkwrap4me $1,000,000 (one million dollars) over a 2 month period. He will also agrees to this pay schedule below. The money will be paid at the coordinates of X: -2628 Y: 63 Z: -4225 Week 1: $155,000 ($170,000 if late) Week 2: $155,000 ($170,000 if late) Week 3: $155,000 ($170,000 if late) Week 4: $155,000 ($170,000 if late) I agree that the terms in this contract are subject to all of EcoCityCraft's rules, including the rules listed specifically in this forum. I understand that the contract may be affected by future changes in EcoCityCraft rules and server updates, and I accept that due to the possibility of such changes, this contract may be at my own risk. I understand that the contents of this contract are subject to staff assessment, review and approval before it is a binding contract under EcoCityCraft rules. I accept that action may not be taken in case of a breach of contract if appropriate and sufficient evidence is not provided of such.: Yes.
IGN: MinecraftParkerH I, as another party to this contract, agree to the terms laid out for me to uphold, and understand that failure to complete such terms will result in a breach of contract: yes
One thing I'm not sure I understand, if he is buying it, why will he owe you $1,000,000 if something happens to it? My understanding is he is making a down payment of $230,000, and then paying an additional $620,000, totaling $850,000. Even with late fees, he would owe an additional $60,000 if he misses payments (totaling $910,000). So therefore, I will not be enforcing that he pay $1,000,000 if he breaks it, loses it, or sells it, as it he would still be required to pay the regular payments. Please change this part of the contract, and re-agree, and you would be good to go. @shrinkwrap4me @MinecraftParkerH
@Maco20047 , you are mistunderstanding what is being said. If @MinecraftParkerH fails to pay back $155,000/week, he will an additional $15,000 for that payment. So, a total amount of $170,000. So, if he breaks/loses/sells it, the new total amount would be $1,000,000.
Whether he breaks, loses, or sells it should not matter as long as he makes the correct payments on time.
