Any Law elaborate more about Deposit Fee ?
Anyone out there can advise ,I have a friend wanted to buy used car he checked and liked it, however he said he would sell his car to get money to pay for the other one, The first Party asked him to Pay Deposit so that other Guy will HOLD the car till he find complete money, however he paid deposit amount and with written agreement but there was no "Time Limit" which was stated for both to accomplish the deal.
Now recently when my friend got an emergency he decided not to buy that car and needed his deposit cash back, but the Guy said he'll deduct some amount because he waited one month and so there's penalty to be deducted from my friends' deposit, What I know if you purchase and go with it, then after certain period return back then money can be deducted but the Guy still using the his car...Question, Is it legal in Qatar?
DEAR JONES....WHENEVER BUYING/SELLING...MONEY IS INVOLVED...SHOULD BE DOCUMENTED....MOST OF THE TIME....THE DEPOSIT IS NON REFUNDABLE UNLESS STATED OTHERWISE.....AT THE SAME TIME IF THE SELLER IS GETTING BETTER PRICE....SOLD THE CAR...THEN RETURN THE DEPOSIT IN DOUBLE THE AMOUNT....UNLESS STATED OTHERWISE.
@Elkhorn, Question was, where is it written in the law and which clause states about that? As per my understanding that was an Open Agreement any Party can Withdraw without Notice....
The problem here is that with the provision of the deposit, your friend has ipso facto agreed that he will buy the car. So if he reneges on this agreement, the person actually has the right to withhold the said deposit - as compensation for him not selling the car to another party.
that's how we live in this world jones.....there are people existing and living at the expense of others.
@Knor, agree with you, 500 is acceptable but 1000 is too much and yet he didn't let the guy took the car ,the mileage was less ,after one month 1,000km more ,so even him he shud pay for that difference..as you know some bad people out there want to reap other poor peoples pocket..so bad..that's in deed robbery without Violence.....
it's called gentleman agreement. no such law can cover that. if the deduction is 500-1,000 its fine. but it is more that......sorry then, just tell him just to charge it to experience.