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Statute of Frauds and Deposit Return

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bldieff

Junior Member
What is the name of your state (only U.S. law)? FL
I entered into a contract to buy a boat from a private seller in Florida. There was no written agreement; only oral. He told me that the cost to transport the boat to my city (Charleston, SC) should be around $1500, and that the cost of insurance was small. He never gave an actual figure. When I started looking into transportation options after sending the deposit, the avg price to transport was over $3K my selected insurance company required me get 30-35 hours of professional Captain instruction before I was covered personally, which will cost more than $3K.

I told him 5 days after the agreement that I didn't know how I would be able to continue the purchase, but never fully backed out. He cashed my $1K deposit 4 days AFTER that conversation.

He now says the contract is void and is retaining my deposit. Can I get it back?
 


swalsh411

Senior Member
I don't see how he could be compelled to return it. In fact you're lucky the seller isn't suing you because you backed out and didn't buy the boat.

You cannot unilaterlly get out of a contract as want to do unless the contract or some other law allows for it. Basically what you're trying to say is "I change my mind" and you can't do that unless the contract gives you that right.

It's not the seller's responsibility to research insurance requirements and transport costs. You should have looked into that before agreeing to buy the boat and sending the deposit.

edit: and there is no fraud here as far as I can see.
 
Last edited:

Zigner

Senior Member, Non-Attorney
What is the name of your state (only U.S. law)? FL
I entered into a contract to buy a boat from a private seller in Florida. There was no written agreement; only oral. He told me that the cost to transport the boat to my city (Charleston, SC) should be around $1500, and that the cost of insurance was small. He never gave an actual figure. When I started looking into transportation options after sending the deposit, the avg price to transport was over $3K my selected insurance company required me get 30-35 hours of professional Captain instruction before I was covered personally, which will cost more than $3K.

I told him 5 days after the agreement that I didn't know how I would be able to continue the purchase, but never fully backed out. He cashed my $1K deposit 4 days AFTER that conversation.

He now says the contract is void and is retaining my deposit. Can I get it back?
Tell him you'll be happy to fulfill the terms of your agreement.
 

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