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    Legal question - OTP and keeping deposits

    lol you need consent to rescind? Not in this country baby. Otherwise it's not a rescission, it is a mutual termination by agreement.
  2. A

    Legal question - OTP and keeping deposits

    The whole 10% deposit is part of the contract. If the contract is rescinded, then the basis for that 10% deposit no longer exists, and therefore it must be returned. Otherwise they will be holding the 10% unlawfully and it will be tantamount to stealing.
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    Legal question - OTP and keeping deposits

    Check your contract. Usually the deposit is refunded immediately because no contract exists anymore. An extension of a sunset clause is a major variation so you have grounds to rescind.
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