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Sales Contract - Which Law?

SoldierForce · 2007-10-07 15:55:07

I remember a Law which states that if a deposit is paid for a product then in the event that the buyer doesn't want to buy the product the seller can stay with the deposit and not refund it, whereas when a seller is paid a deposit but is not willing to keep up to the sale he will not only have to refund the deposit but…

07-10-2007 3:55pm

#1

SoldierForce

Registered Users, Registered Users 2 Posts: 320 ✭✭

Join Date: August 2006

Posts: 268

I remember a Law which states that if a deposit is paid for a product then in the event that the buyer doesn't want to buy the product the seller can stay with the deposit and not refund it, whereas when a seller is paid a deposit but is not willing to keep up to the sale he will not only have to refund the deposit but also 100% more in interest on the deposit.
Where is this part of the Law and who all does this apply to? I'm sure I read it or heard it somewhere! Surely it's not an unwritten law?

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