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Shady Lane Retailers, Manufacturers, ePay, AudiogoN, Paypal or whatever. Buying and selling advice. |
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Shady Lane Retailers, Manufacturers, ePay, AudiogoN, Paypal or whatever. Buying and selling advice. |
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In Reply to: YOU chose the wrong action, he was 'impolite' to keep your $500. but posted by Elizabeth on March 23, 2010 at 12:58:10:
... it is meant to be forfeited if the buyer backs out of the deal.
In exchange for receiving the deposit, the seller agrees to not sell the item to anyone else, even if another buyer comes in with a more generous offer.
If a deposit doesn't mean that, then it is meaningless.
If there are meant to be exceptions to these two rules for either side, they need to be put in writing.
Short story? Never put down a deposit unless you really mean to follow through.
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Follow Ups
- That's the whole point of a deposit... - mls-stl 14:37:45 03/23/10 (1)
- Shorter Story - Record Squid 00:08:31 03/24/10 (0)
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