Legal Question in Civil Litigation in Florida

REGULATION OF TRADE, COMMERCE, INVESTMENTS, AND SOLICITATIONS Chapter 501

501.976 Actionable, unfair, or deceptive acts or practices.--It is an unfair or deceptive act or practice, actionable under the Florida Deceptive and Unfair Trade Practices Act, for a dealer to:

10) Require or accept a deposit from a prospective customer prior to entering into a binding contract for the purchase and sale of a vehicle unless the customer is given a written receipt that states how long the dealer will hold the vehicle from other sale and the amount of the deposit, and clearly and conspicuously states whether and upon what conditions the deposit is refundable or nonrefundable.

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