My 19 year old son gave $800 to a private party as a good faith deposit to hold a vehicle until he could check to see if he could obtain financing. The person that recieved the money wrote out a reciept that says " Recieved $800 from "My Son" for partial payment for 1990 Chevy truck". Signed "Private Party Name"
The date was also on the reciept. My son went to the bank and was told he could not obtain financing without a co-signer due to his age and the fact that he does have any credit at this time. My son, knowing that I would not co-sign for him, went back to the private party and told them that he could not obtain financing, and wanted his deposit back. They refused. This all happened within a 24 hour period. He wants to take this to small claims court but does not know whether or not he has a case. Does he have a case?
I believe there is a law that protects the buyer in this case if going through a dealer, but I'm not sure when going through a private party.
The date was also on the reciept. My son went to the bank and was told he could not obtain financing without a co-signer due to his age and the fact that he does have any credit at this time. My son, knowing that I would not co-sign for him, went back to the private party and told them that he could not obtain financing, and wanted his deposit back. They refused. This all happened within a 24 hour period. He wants to take this to small claims court but does not know whether or not he has a case. Does he have a case?
I believe there is a law that protects the buyer in this case if going through a dealer, but I'm not sure when going through a private party.