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Without consideration on the sellers part (such as removing a for sale sign or cancelling an newspaper ad for example) along with your consideration (a holding check for example) there is no contract. You may be able to argue a quasi contract and demand specific performance (him selling you the car) but other than that, there are no damages to claim. Not everything that is legal is ethical and not everyting that is ethical is legal.
There are better SC's around anyway...
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Sam
'02 996 TT
'07 Audi S4 Avant
'88 Carrera (Sold)
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