Is purchase agreement legally binding?

[MayDay]

I live in Missouri. My husband and I are in the process of buying a commercial truck and have given a dealership a $500 deposit to hold the truck while waiting for the loan we have secured to be finalized. The bank has advised the dealer that the loan is approved, however the dealer wishes to sell to another buyer. Can the truck dealer sell to someone else in spite of the fact he has a purchase agreement with us? Thank you for your help.

 

[HomeGuru]

Read the fine print in said purchase agreement.
The agreement was subject to financing among other things.