stapler101
New member
Short version.
A "buyer" sends a deposit ($1500 on a $30000 deal) on an airplane, agrees on the price, agrees to pay 1/2 of annual and some other items.
The agreement is verbal.
The day the annual is completed the buyer advises that he has decided not to buy the plane.
The decision not to buy was based on finances, not any result of the annual.
Since the deposit was made the seller had cancelled ads to sell the plane and had also told two prospective buyers that the plane was sold.
What, if any, of the deposit should be returned?
A "buyer" sends a deposit ($1500 on a $30000 deal) on an airplane, agrees on the price, agrees to pay 1/2 of annual and some other items.
The agreement is verbal.
The day the annual is completed the buyer advises that he has decided not to buy the plane.
The decision not to buy was based on finances, not any result of the annual.
Since the deposit was made the seller had cancelled ads to sell the plane and had also told two prospective buyers that the plane was sold.
What, if any, of the deposit should be returned?