contract question

[swak]

Say person A sold a car, Person B bought it.
A and B signed a contract that car will be sold for X-dollars.

Person B paid $1000 down payment to hold it etc...
Then Person B backs out sale.

Is person A obligated to give back money?
Or what?
Nothing of this was clarified in contract.

Thanks for the help

[R!zz0]

Is it a dealership or private?

When i give a deposit, i always write it down on a paper saying that it's refundable and make him/her sign for it. If it's dealer and it was through credit card, then just call the credit card company and cancel the transaction. If it was cash deposit, then person B has to really argue to Person A about getting the deposit back.

People just give deposit and think there is nothing to it. I have heard of people go to court because of this. Be smart, write it down and make him/her sign for it before you give out any money.

[em2ab]

<pulled from legal memory>

A deposit is given to show good faith and intention for a pending sale. If the sale never takes place, the deposit is returned as it was never seen as a form of payment. I'm pretty sure that's what any judge/lawyer will tell you.

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