The key difference between a deposit and a down payment is which of the following?
A)if the agreement is breached, the holder can deduct any actual loss from the down payment, but must refund the balance. With a deposit, the holder can keep the entire amount no matter what the actual loss is;
B)if the agreement is breached, the holder cannot deduct any money from the down payment. With a deposit, the holder can only keep a part of the money;
C)there is no difference between the two
D)a deposit cannot exceed more than 10% of the total price but a down payment can
E)a down payment cannot exceed more than 10% of the total price but a deposit can

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The Answer of The key difference between a deposit and a down payment is which of the following?
A)if the agreement is breached, the holder can deduct any actual loss from the down payment, but must refund the balance. With a deposit, the holder can keep the entire amount no matter what the actual loss is;
B)if the agreement is breached, the holder cannot deduct any money from the down payment. With a deposit, the holder can only keep a part of the money;
C)there is no difference between the two
D)a deposit cannot exceed more than 10% of the total price but a down payment can
E)a down payment cannot exceed more than 10% of the total price but a deposit can

The Key Difference Between a Deposit and a Down Payment