Dispute over £21k deposit shows importance of sales contracts.

A legal case involving a dispute over the return of a deposit for a pony purchase highlights the importance of having a sales contract in place. The buyer, Theresa Bearman, agreed to purchase a showjumper pony for £85,000 and paid a £21,500 deposit. However, after a vetting revealed lameness in the pony, Bearman decided not to proceed with the purchase and requested her deposit back. The seller, Raquel Eldridge-Keenan, claimed the deposit was a holding deposit and refused to return it. The judge ruled in favor of Bearman, emphasizing the need for standard contracts in private sales to clarify rights and responsibilities. The case underscores the importance of written contracts to avoid disputes and highlights the increasing number of deposit disputes in recent years. Experts recommend including terms about deposits and vettings in sales contracts to prevent such issues. [Extracted from the article]