Explain the Difference Between a Deposit and a Down Payment

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The Answer is A deposit is a sum of money paid by the buyer to the seller to be forfeited if the buyer does not perform the buyer's part of the bargain,while a down payment is a sum of money paid by a buyer as an initial part of the purchase price.Generally speaking,the distinction is important,because a deposit is meant to protect a seller at least to that extent in the event of the buyer's non-acceptance,while the effect of a down payment will depend on whether title to the goods has passed at the time of the buyer's repudiation.

Explain the Difference Between a Deposit and a Down Payment

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