I have a contract that reads,

Asked on October 13, 2017 under Business Law, New York


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

Actually, it is the other way around: contracts deposits retainers, etc. are always nonrefundable unless they specifically are stated or agreed to be refundable; that is, nonrefundable is the default or the norm. So long as the vendor does not breach his or her contractual obligations (that is, so long as they honor the agreement/contract), they do not have to refund any money.

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