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Section 9

Truth in Lending

9.2 Contract Not Executed

  1. Any payments made by a buyer before they sign a conditional sales contract must be refunded if the buyer decides to back out of the deal. In other words, a dealer cannot keep a deposit, even if dealer advised the buyer the deposit was non-refundable at the time the buyer made the deposit. Any such payments must be refunded within five days of demand by the buyer. (C.C. §2982.7(a))

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