A buyer who breaches a contract after making a down payment generally will be subject to the rule that the seller may retain the full down payment as damages.

Name: A buyer who breaches a contract after making a down payment generally will be subject to the rule that the seller may retain the full down payment as damages.
Brand: Quizplus
Rating: 4.9 (44 reviews)

Question

Quizplus · Accepted Answer

The seller may retain the down payment as liquidated damages only if the contract specifies this and the amount is reasonable; otherwise, the seller may need to return part of it.

A Buyer Who Breaches a Contract After Making a Down