On August 16th, 2012, our company wire transferred a $5,000 deposit to Casey Freeman, the General Manager of Legend Marine Group out of Carrolton, TX. The deposit was to temporarily hold a 38’ Cigarette Topgun for a customer of ours, until he could get down from Illinois, to Texas, to look at the boat. At no point in any of our, or our customer’s conversations with Casey, did he state that this deposit would be non-refundable if our customer chose not to go through with the purchase. On August 17th, 2012, a day after we sent the deposit, our customer decided he no longer wanted that exact boat, but made it apparent to Casey that he was still in the market for a similar one. We contacted Casey, and he assured us that the money would be refunded, and also sent a text message to our customer saying that we would be getting the money wire transferred back to us. After a couple of weeks of no response from Casey, we again tried calling him and sent him an email. From that point, forward, we have not heard anything from Casey, or anyone at Legend Marine Group. They have refused to answer our calls and emails, or provide us with any sort of answer for not refunding our deposit. We have also sent an email to the owner of Legend Marine Group and Legend Motorcars, Greg Connell, from which we received no response. On October 1st, 2012, our corporate attorney sent a certified letter attempting to collect our deposit from them, in which we also received no response. It has now been over two weeks since sending this letter, and two months since we requested our deposit back. It is unfortunate that they have opted out of communicating with us on this, and have not given our deposit back. They carry very reputable brands such as, Cigarette, Formula, Donzi, Fountain, and Montery, which is why it baffles me that for such a small amount of amount of money, they would want this type of reputation. For these well-respected brands and their business, it is too bad they are operating in this sort of manner, but this may indicate that Legend Marine Group is financially distressed. I would highly recommend that no one deals with Legend Marine Group, and most certainly never leave any sort of a deposit with them. As a company with several avid boaters, there is no way we, or our customer will purchase from them again and we advise others to be leary, as well. This dealer is clearly trying to take advantage of innocent parties, and what was a $5,000 deposit may now cost them ten times that in legal fees.

Casey Freeman: [email protected]
General Manager/Sales Manager
469-546-1204

Greg Connell: [email protected]
Owner-Legend Marine Group/Legend Motorcars

Legend Marine Group
1835 Forms Drive #100
Carrollton, TX. 75006

Phone: 214-904-0052
Fax: 214-350-8820
www.legendmarinegroup.com

Legend Motorcars
1901 Forest Lane
Garland, TX.

So over night the buyer decided this wasn't the boat for him, or just get a case of cold feet?

Someones going to have to explain to me what a deposit means.

I think its when you think you want a boat and want to check it out first..get the ret of the money together etc... you give the dealer a deposit, some money to hold the boat and not sell it to anyone else. That way if you back out the dealer has some compnsation because he didnt try to sell it to anyone else. I could see asking for your deposit back if you got there and the boat was grossly misrepresented. However if the boat is what its advertised as, you gave the dealer money to not sell it to anybody else, so you have commited to buying it if it checks out. Whether the dealer has another interested party or not is irrealevent, you asked him specifically not to sell it.

Counter argument would be that it was only two days....they definitely didn't lose a sale while holding it. + op is stating that a rep of legend gave a verbal ok for a refund.

This thread should be a good follow....

@ op. What is your company?

time or other potential sales doen't really matter, A boat dealer is in buisness to sell boats. You gave him money ( deposit) to not sell it because you said youwanted to buy it. He held up his end of the deal, you didnt.

I never understood the deposit thing. Doesn't matter if it is a dollar or 100 thousand dollars, what good is a refundable deposit if the money can't be spent until the item is sold? It does nothing.

I sell most of my items outright when I am done with them, and will never take a deposit for that very reason. Again, if I can't spend the money it doesn't matter the amount, might as just well hand me a blank piece of paper.

Btw, deposits that are not refunded, without services of products rendered will always win in court. You will get your money back or a judgement as far as the law is concerned, unless he can prove you got something for the $5gs, which in this case it looks like you got nothing

Then have the nuts to answer the call and say why no money back. OR, say deposit is non-refundable in the beginning. C.O.M.M.U.N.I.C.A.T.E

If I was legand marine I would not return the deposit BUT i would have never said that I was going to either. Thats ,in my mind, where this gets sticky. If I m selling somthing and I take a deposit it means that whatever Im selling is sold and this deposit is simply to hold it till the rest of the funds are acquired. On the flip side, I am clear about this too whenever I take a deposit. Other words whats the point of taking a deposit? Sounds to me the biggest problem here is miscommunication by both parties as to what the deposit meant. This situation sux for both parties.

Oxford dictionary:

Definition of deposit


noun

1a sum of money paid into a bank or building society account: cash funds which are an alternative to bank or building society deposits


2a sum payable as a first instalment on the purchase of something or as a pledge for a contract, the balance being payable later: we’ve saved enough for a deposit on a house


a returnable sum payable on the hire or rental of something, to cover possible loss or damage: a refundable €100 deposit is payable on arrival at the villa

Deposits should not be refunded unless stated in a written contract. The buyer found the boat he wanted, put a deposit down, then decided it wasn't the boat he really wanted. Buyer backed out. Nuff said.