What I meant by personal transaction, is a personal contract between the two parties, entered into properly. Of course, done this way, the contract would have to stay in effect until delivery, and the parties would need to communicate at the appropriate times, for instance when the reservation number comes up, and the order process begins. The other day we were talking about this being done between friends.
ELIO RESERVATION AGREEMENT
5. Order Process
When the start of production of your reservation nears, we will ask you to confirm your option selections and provide full details regarding the legal purchaser of the vehicle. Elio will create an order for your vehicle containing the information provided by you, and a Purchase Agreement indicating the estimated purchase price of your vehicle, taking into account the base price of the model and any options included or that you select, plus estimates of any applicable taxes, duties, transport and delivery charges, and any other applicable fees. Elio will then submit to you the order and the Purchase Agreement for your review. If you wish to proceed and purchase the vehicle, you must sign and return the Purchase Agreement together with any amounts that are then required to be paid. Production of your vehicle will then be commenced and your additional deposit payable under the Purchase Agreement will be held by Elio as a non-refundable deposit (to the extent permitted by applicable law). These procedures may be subject to change.