Michael Jay wrote:However, should proof be furnished that this item is not authentic, then you'll have to (legally) take the item back and refund the entire purchase price. Nevertheless, you'll not be afoul of legalities, since you sold the item in "good faith."
Sorry to harp on about this (i've put my 2p on another thread regarding this sort of thing)...but if the book is sold by a private individual and not a company then the only law of relevance is the item has to match the description. The main legal point being caveat emptor (buyer beware / sold as seen). There would be no legal obligation to accept a return or provide a refund assuming you meet those two criteria.
In this instance a case could be proposed by the purchaser to suggest that the individual selling the item knew it was a fake signature and did not disclose this in the advert. This would be an issue that would need the courts attention.
Therefore the important thing with private sales is make sure you describe the item exactly as it is before it leaves your possession, otherwise you do have a legal responsibility, but only to take a return and provide a full refund, the item must match it's sales description.
Selling privately offers the buyer less protection, why do you think there a fair few (not all I hasten to add) unsrupulous characters that sell cars privately even though they have a trade business in the background...
Cheers.
lmw.