Contract being fulfilled with post dated cheque on date of promised payment - query?

Monkey61

Hello, I was hoping for some general information, but I am not sure what constitutes asking for legal advice or not, so apologies if this isn't allowed.

My query is this - say one buys a product from a company with a contract that states that they will buy the product back from you in a specified number of years for a fixed amount (a piece of art for instance).

The contract does not specify the exact method of re-payment, but it does state that the product will be bought back at the fixed rate within a certain period.

When the appointed time period comes to return the item as per the contract, are the company allowed to provide you with a post-dated cheque, dated 12 months later?

I have been furiously dating post-dated cheques and such, but am a bit lost.

Thanks!

Victor

While not necessarily a scam, it does seem exploitative.

When is payment due? There is a legitimate expectation for the any such payment to happen prompty. 12 months is not reasonable.

Talking to a solicitor and/or the Garda may be useful.

bath handle

Might well be something to refer to the office of consumer affairs.