QLD Australian Consumer Law - Purchase of Gold Online Dispute?

[jason bourne]

I purchased gold via the internet on Friday. The seller has rescinded my contract stating a mistake was made in the price. I still wish to proceed. They are blaming the incorrect price on a faulty price feed.

Their website has a browse/wrap arrangement, where all purchasers have to click on the "I agree" icon before proceeding to the checkout. The "I agree" icon does not take a seller directly to terms and conditions, which I have now read to allow the seller to amend the price quoted. However their FAQs section insists that their pricing is without reproach.

I received an invoice confirming my purchase at the lower price two hours before they emailed me to cancel the purchase. I had already paid for the gold. All contract requirements seem to have been met, offer, acceptance, consideration.

Should I sue under Australian Consumer Law?

I have spent the weekend studying case law on the internet contracts and contracts in general and it would appear that they cannot avoid their responsibilities under the contract merely because they made a pricing mistake.

The amount involved is very substantial.

 

[Victoria S]

Hi @jason bourne,

A seller is within its rights to correct an error in pricing at the point of sale by offering you the item at the correct price, however, once they have processed the sale and taken payment, they can’t attempt to correct the error or claw back any money as the transaction (and the contract) is deemed complete at this point.

 

[Rod]

Need to be careful though. If there is an obvious mistake in the price eg gold priced at $155/ounce instead of $1550/ounce they will more than likely be able to cancel without penalty.

 

[jason bourne]

Thanks for the replies everyone. The advertised price was $2 an ounce. I received an invoice for my purchase, which they later emailed me and said they could not honour the invoice. This was after I had paid them.

 

[Rod]

Lol, OK. Don't think you'll win that one if you go to court!

In real terms, I don't think gold has ever been that price, and that includes the middle ages!

 

[jason bourne]

lol, OK. Don't think you'll win that one if you go to court!

In real terms I don't think gold has ever been that price, and that includes the middle ages!

OK just for the sake of the conversation...what would be your defense?

 

[Rod]

In common law it is a unilateral mistake - obvious error. Judged by what a reasonable person would think, not what the seller thinks and not what you think.

I suspect equity would be against you as well, but I know very little about equity law.

Curious, were you about to become a millionaire??

 

[jason bourne]

In common law it is a unilateral mistake - obvious error. Judged by what a reasonable person would think, not what the seller thinks and not what you think.

I suspect equity would be against you as well, but I know very little about equity law.

Curious, were you about to become a millionaire??

Yeah good one...like any human being, I'll have a go until I see the folly of my ways.

Short answer to your question...yes...

 

[Rod]

Ahh well, it is nice to dream. Good luck anyway.

Be careful though not to waste good money chasing an impossible dream.

 

[jason bourne]

Ahh well, it is nice to dream. Good luck anyway.

Be careful though not to waste good money chasing an impossible dream.

Thanks for your replies.

I won't be spending any money on solicitors if I can help it. I'll do some more research on the mistake. That seems to be the guts of it. Although, internet contract law is still evolving...I must admit in closing the diamond ring case recently decided in favour of the buyer encouraged me a fair bit...Interesting reading...

No Cookies | Daily Telegraph