June 6, 2012

Deposits or Penalty Clauses? Sellers Beware

Written by Peter Lynn
Posted in

There can be legal difficulties when trying to claim in excess of 10% deposits particularly with regard to sale of land. Many deposits are regarded by sellers as non-refundable.
However, there are arguments for deeming that these are unlawful penalty clauses. For full advice on contractual matters, please call Peter Lynn on 01792 450010