3 day inspection/transfer

[Mark Kircher]

I had a conversation yesterday with another Gun enthusiast who is a good friend. – We found we had different interpretations of the “3 day inspection” – we agreed is a subjective term and perhaps there is not an exact/correct definition, but our interpretations of when the deal consummates were a ways apart. I am curious how others on this board interpret the “3 day inspection” gun exchange. Below are the points I believe are correct for a typical gun deal between parties who are not friends or even acquaintances. – needless to say deals between friends are different story.

- Buyer forwards funds to seller.
- Upon receipt/clearance seller ships gun to FFL holder/dealer (FFL for short).
- Upon receipt of gun at FFL, buyer has 3 days to get to FFL and inspect gun.
- Gun may be rejected for any reason within the 3 days - buyer does not need explain why rejecting.
- If 3 days pass without any inspection or contact from buyer or FFL indicating gun is on the way back or more time is being requested, seller considers gun sold and buyer is new owner.
- If accepted, buyer goes through transfer paperwork and pays FFL for service. My interpretation is - At this moment deal is complete and inspection period has ended. Similar to a handshake – “we have a deal - the end”.

My friend believes At this moment buyer can then take gun home and clean/shoot/whatever and still has the remaining time on the clock to change his mind and decide he does not want gun after all. He can then go back to FFL and demand deal be unwound. I disagree.
Thoughts .....