A sale contract is a legally binding document
that is generally irrevocable after its conclusion. In principle,
contracts may not be revoked as a result of the will of one of the
parties, hence; the legal terminology contract with the down
payment has been established.
When a preliminary sale contract is entered
into, both parties agree to a down payment which is a
percentage of the full purchase price paid by the
purchaser. On the one hand, a down payment may be considered as a
means of guarantee to the parties, securing the seller's right
by binding the purchaser to complete the contract, and securing the
purchaser's right by preventing the seller from accepting other
offers. On the other hand, the existence of a down-payment also
entitles either party to revoke their offer, in exchange for
forfeiting the down payment paid.
