Russ,
Sounds like a business law question we just had with just the property description(car), price, and sellers signature on a napkin.Under the UCC, which governs goods which your Cessna is, many details can be omitted from the contract. Delivery and payment would need to occur within a "reasonable" time. I think 30 days would be reasonable from a legal standpoint. As others have suggested, I would send him a letter, return receipt,stating you will expect payment within 30 days of your signing the document stating that you believe this is more than reasonable time to complete the purchase and if he doesn't respond, return the unused portion of his payment(less the cost of his requested inspections) since you didn't specify he was purchasing an option.I would also state in the memo section of the check this is payment in full for all matters regarding N12345. I don't think he will ever sue due to the expense and logistics of doing so.You could sue for the full value but, once again, it is not worth it with potential buyers lined up.
Good luck,
Terry
No warrant ability merchantability fitness of the above advice is expressed or implied it is worth exactly what was paid!
