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Which can I refund the deposit

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Which can I refund the deposit


        

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  • 2024-06-04 20:00:48

    The deposit is a guarantee of debt. When the contract is performed normally, the deposit is used as the price or recovered by the delivery party. In case of non performance of the contract, the deposit penalty shall apply. If the party who pays the deposit fails to perform its obligations or fails to perform its obligations in accordance with the agreement, which makes it impossible to achieve the purpose of the contract, it shall not have the right to request the return of the deposit; If the party receiving the deposit fails to perform its obligations or fails to perform its obligations in accordance with the agreement, which makes it impossible to achieve the purpose of the contract, it shall return twice the amount of the deposit.

    Deposit is widely used in daily economic activities. Strictly speaking, the deposit is only an idiom, not a legal concept. Deposit is the money paid by one party to the other party for transaction needs, and it does not have the function of guarantee. In general, the deposit paid is regarded as the advance payment. When the transaction is successful, the deposit serves as the payment for goods. When the transaction is failed, the deposit shall be returned in full. The party receiving the deposit shall still bear the obligation to return the deposit even if it breaches the contract.

    [Legal Basis]

    Article 587 of the Civil Code states that if the debtor performs his obligation, the deposit shall be set off against the price or recovered. If the party who pays the deposit fails to perform its obligations or fails to perform its obligations in accordance with the agreement, which makes it impossible to achieve the purpose of the contract, it shall not have the right to request the return of the deposit; If the party receiving the deposit fails to perform its obligations or fails to perform its obligations in accordance with the agreement, which makes it impossible to achieve the purpose of the contract, it shall return twice the amount of the deposit.

    P***

    2024-06-04 20:00:48

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