What happens when you buy a large ticket item and they forget to collect your down payment?

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What happens when you buy a large ticket item and they forget to collect your down payment?

Asked on September 9, 2014 under Business Law, Oregon

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

If the error is in your favor (e.g. they forgot to take the downpayment from you), then while you would have to pay if they remember and seek to collect it--you have to pay the full amount if the ask for it, even if they forgot to collect it initially--you are under no obligation to voluntarily offer it to them; you could count yourself lucky until and unless they seek the money, at which time you'd have to pay it to them.

 


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