Ask A Maritime Attorney: Is the seller legally allowed to keep the deposit if the buyer backs out of the purchase agreement after the inspection period but without citing a specific defect?

May 8, 2025
David Weil. Esq.

Question: We recently entered into a written agreement with a private party to purchase a boat. The “agreement” was a generic purchase agreement that the seller found online, and

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Ask A Maritime Attorney: Is the seller legally allowed to keep the deposit if the buyer backs out of the purchase agreement after the inspection period but without citing a specific defect?

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