QUESTION

If I give you earnest money to hold something how long are you required by law to hold it

Asked on Jul 05th, 2021 on General Practice - Georgia
More details to this question:
Gave a man earnest money to hold a camper for me and now he's wanting more going to sell the camper
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1 ANSWER

Appellate Practice Attorney serving New York, NY
Although it is possible that GA law is different, there would be no legal requirement as to how long you must refrain from selling property after accepting a deposit.  It depends on what the contracting parties agree on.  Did you agree with the owner that he would hold the camper for a specified period of time?  If this term was not discussed, the law will generlaly imply a reasonable amount of time, but "reasonable" depends on the circumstances.
Answered on Jul 05th, 2021 at 10:17 AM

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