Is his deposit refundable?
I took a 500.00 deposit from someone toward the purchase of my car. On his receipt I wrote. 500 deposit toward purchase price of 7500.00 to be picked up last week of July, 1st week of August 2008. The guy hasn't returned any phone calls or emails and its well past the 1st week of August. I have passed up muliple sales because of this. Do I have to return this deposit in the event he ever contacts me? Or am I expected to hold this 500 forever and take the loss [of lost sales]?
Thank you, in advance.