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If you believe you're entitled to the deposit and the buyer disagrees, you have the option of taking legal action. Depending on the situation, you may also be able to sue a purchaser who breaches your contract for damages.
A contract is breached when one party, without just cause, fails or refuses to perform his/her agreement even though the other party has performed all he/she was required to do under the agreement. (See Ohio Jury Instructions (OJI) Section 253.01(6).)
Buyer's Remedies for Breach of Contract In addition to suing for damages, the buyer can request that the money they've already paid be returned. A suit for price is another remedy available for a contract breach. These suits involve the money that the buyer has paid for goods that were not delivered by the seller.
As a general rule, Ohio follows the doctrine of caveat emptor in all real estate transactions, which precludes a purchaser from recovering for a structural defect if: ?(1) the condition complained of is open to observation or discoverable upon reasonable inspection; (2) the purchaser had the unimpeded opportunity to ...
To have a valid breach of contract claim, you need to show the following: You and the breaching party entered into a valid contract. This means that the contract was lawfully entered into, supported by consideration, enforceable, and met the requirements of the Ohio statute of frauds.
The Bullet Point: In a wide-ranging opinion, the Ohio Supreme Court reaffirmed a number of contract and tort law principals: Punitive damages are not recoverable in an action for breach of contract.
The existence of a contract; Performance by the plaintiff or some justification for nonperformance; Failure to perform the contract by the defendant; and, Resulting damages to the plaintiff.