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Do you have to return the deposit on a personal car purchase if the buyer breaches a verbal agreement?
Deposits are for missed payments and damage caused. If it is stated that on a breach of agreement you would not return the deposit then yes, or if it has caused and sort of money (gas money, cleaning, return it to the way it was) then you would be entitled to that deposit up to that amount used.
What else can I help you with?
Can you explain how personal contract purchase works?
Personal Contract Purchase (PCP) is a type of car finance agreement where you pay a deposit, followed by monthly payments for a fixed term. At the end of the term, you have the option to either return the car, trade it in for a new one, or pay a final lump sum to own the car outright.
Are you committed to a purchase agreement if money has not been exchanged?
Typically, a purchase agreement is not legally binding until money has been exchanged or a deposit has been paid. Until this point, either party can typically walk away from the agreement. It is always best to review the specific terms of the purchase agreement to understand any commitments or obligations.
Can a dealer legally sell a car that I left a deposit on?
In most cases, a dealer can legally sell a car that you left a deposit on if you haven't signed a contract or completed the purchase agreement. It's important to clarify the terms of the deposit and any agreements with the dealer to understand your rights in this situation.
Why fixed deposit is called as pledge?
A fixed deposit is called a pledge, because it is an agreement that is made. The agreement is a certain amount of money will be deposited on a regular basis. It is a promise or pledge to make the deposit.
In Alberta can a landlord make you pay damage deposit after you have already moved in?
If a damage deposit is/was a term of your Residential Tenancy Agreement, then yes. If there was no provision for a damage deposit when you signed the agreement, then the terms cannot be changed until the agreement expires, or both parties agree to the change in writing.
How do you write a letter to bank manager regarding fixed deposit cancellation?
When you write a letter to a bank manager regarding fixed deposit cancellation, you need to be formal. You should have all the details about the fixed deposit and ensure that you are not breaching any agreement. Give your personal details and information about the particular account.
If a final sales agreement and loan papers have not been signed is the deal still an obligation to purchase?
You are not obligated to complete the deal until they are signed. However, depending on whatever prior agreement you may have, any deposit may be lost as well as goodwill.
What is the seller's compensations if buyer does not keep his agreement to purchase real estate?
There are remedies available to the Seller if a buyer does not purchase the real estate as agreed in a written, fully executed contract. These are only available to the seller if the buyer has signed the contract and there are no limiting conditions such as a financial clause, inspection clause, due diligence period, etc. If the buyer breaches the contract the seller may sue to keep the buyer's deposit, sue for damages caused by the buyer breaching the contract, and may also sue for "specific performance" which would force the buyer to purchase and close on the real estate.
When agreed upon in advance what is the seller's compensation if the buyer does not keep his agreement to purchase?
If the buyer does not fulfill their agreement to purchase, the seller's compensation, as agreed upon in advance, typically comes in the form of a forfeited deposit or earnest money. This amount is usually specified in the purchase contract and serves as compensation for the seller's time and opportunity cost. Additionally, the seller may also seek damages for any losses incurred due to the breach, depending on the terms outlined in the agreement.
Can you opt out of a purchase if you gave a deposit?
Possibly. You will very likely lose your deposit.
Can you get your rental deposit back if you signed an agreement to rent but the date has not come up to cash money order for deposit and you cant want to rent anymore.no clause about it on agreement.?
(NYS) Landlords do not have punitive authority. If you don't take occupancy and there is no mention of reasonable fees for cancellation of the lease just prior to moving in then, you are entitled to a full refund of your deposit.
Do you have to return a purchase deposit on a used vehicle purchase in California?
Supposedly
