Jason agrees to buy a computer for $2,000 and puts $100 down to hold the computer, promising to return in a few days to pay the balance. Jason has an acute case of buyer's remorse and decides he doesn't want the computer. Which of the following is TRUE?
A)The $100 payment is called a deposit in law.
B)Jason has a legal right to the return of the $100 because he cancelled the deal.
C)Jason has a legal right to the return of the $100 because he didn't get the computer.
D)Jason has no legal right to get the $100 back
E)Both A and D

Question

Quizplus · Accepted Answer

The $100 payment is considered a deposit, and typically, if a buyer backs out of a deal, they forfeit the deposit. Therefore, Jason has no legal right to get the $100 back.

Jason Agrees to Buy a Computer for $2,000 and Puts