Whats wrong with wanting you're money back after a major accident that involved the integrity of the hull you're about to buy? I know the length was different, but you have to wonder why the HTM hulls are so much faster than everyone else's. It's not like HTM can't sell the hull to someone else....

MrOffshore,
I agree, and well said.

if they haven't started building the hull the money should be refunded--if you buy a car (let alone a deposit)--there is a 3 day cool-down law that states you can change your mind and give it back-it's a messy process--not many people are aware of that law

FYI: There is no "cool down" law here in California. When you go to a car dealership ther are signs stating this, and they make you sign a paper when you buy the vehicle that also states this. Once you sign the contract the vehicle is YOURS!!

That being said I think that HTM should return the deposit. When I put a deposit on our current boat it was refundable should I change my mind.

JDNCA1,

I TOURED THE FACILITY IN BARSTOW , TALKING TO THE VERY GUYS THAT LAYED UP THE HULL THAT CAME APART. IT WAS IN PRODUCTION AT THE TIME. THEY COULD ONLY SPEAK BROKEN ENGLISH, NO SUPERVISION AND LIVING OUT OF A HOTEL. ALMOST TRANSIANT, GETTING PAID CASH.

AFTER DISCOVERING HOW THEY OPPERATE AND HANDLE CUSTOMERS, I WANTED MY DEPOSIT BACK.

THERE WAS NO CONTRACT SIGNED AND NO SUCH THING AS A NONE REFUNDABLE DEPOSIT IN CALIFORNIA..

Unless it is a door to door sale or it is secured by a lien on your primary residence (ie not a purchase money transaction) I am unaware of any "cool down" period in a financial transaction unless a contract is drawn as such. Now if you want to buy a gun, that's a whole nuther matter...

Never assume you have a right to return something, your transaction must state that you have the right to recind the transaction and I believe that lenders/sellers must have you sign to acknowledge this and many also have you sign after the 3 days just to prove that you have decided to complete the transaction, although the latter isn't required by law.

So, if you buy a car and you want to take it back 3 days latter...good luck, unless you have it in writing.

if there was NO contract, then what rights do you have?

Most custom builders I know don't have a ton of cash on hand. So I'm sure HTM is even hurting more than the average, considering the situation there.

These Custom Calif builders often use the Deposit to purchase the necessities to begin building the hull - the first item into the mold is the gel-coat. If the boat will be an orange and brown beauty - one of the first things that builder will do is order a large amount of orange & brown gel-coat.

And gel-coat is almost always non-refundable. So are custom fitting gas tanks, windshields, etc.

That's why a "Deposit" also known as a "Pledge" is requested by the builder -- to cover the costs of the preliminary materials being ordered. If the buyer later changes his mind and backs out of the deal, at least the builder won't be stung with having to pay it out of his pocket, on a boat that nobody will be buying.

If the buyer wants out - even after giving his pledge/deposit , then I would think a full refund should be made by the builder, as soon as the boat is sold to someone else.

I am baffled why the courts ruled the way they did.

I've always felt a "Deposit" is a set-in-stone pledge, and something that can't be renegotiated.

In Michigan there is a 3 day "right of recission" on certain transactions. But this law varies depending on your State.

ROCK STAR is just another moron airing his one-sided story and spreading dirty laundry.

BLACKHAWK,

IM SIMPLY SHARING MY EXPERIENCE WITH WHAT I FELT WAS A LESS THAN PROFESSIONAL CO. REMEMBER THE JUDGE ALSO RULLED IN MY FAVOR AND THEY DID NOT APPEAL OR RESPECT THE COURTS DECISION.