Annie Leonard Buys a Computer from Technicon Co

question 32

Multiple Choice

Annie Leonard buys a computer from Technicon Co. for $2,000 on terms. Annie puts $100 down as a deposit, promising to return in a week with the balance and pick it up. She decides not to complete the deal. Technicon's profit on a computer sale is $1,000. What happens now?

• A)Annie can get her deposit back.
• B)Technicon can keep the deposit but cannot sue Annie for the loss of profit.
• C)Technicon can keep the deposit and sue Annie for $1,000.
• D)Technicon must refund the deposit but then can sue Annie for the loss of profit.
• E)Technicon can keep the deposit, deliver the computer to Annie, and sue her for $2,000.

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Definitions:

Lessor

A lessor is a person or entity who leases or rents property to another, known as the lessee.

Tenant

An individual who rents or leases a space, such as an apartment or office, from a landlord.

Mortgage

A legal agreement in which a borrower agrees to repay a lender over time, secured by real property as collateral.

Closing Costs

Expenses over and above the price of the property in a real estate transaction, such as taxes, attorney's fees, and title insurance.