If you send in a non-refundable deposit, are you legally bound to your seat?

[MaiT]

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I just received notification about entrance into a school 🙂soexcited🙂, but it says that a non-refundable deposit is due by April 15th. However, I am on the waitlist for another school, and will most likely not find out if I am admitted into that school until after April 15th. Because I don't want to lose my chance of attending vet school next year, does my non-refundable deposit mean that I am also legally bound to my seat?

 

[Lissarae06]

I just received notification about entrance into a school 🙂soexcited🙂, but it says that a non-refundable deposit is due by April 15th. However, I am on the waitlist for another school, and will most likely not find out if I am admitted into that school until after April 15th. Because I don't want to lose my chance of attending vet school next year, does my non-refundable deposit mean that I am also legally bound to my seat?

No. If you decide not to attend that school, you will just lose your deposit.

 

[StartingoverVet]

No. If you decide not to attend that school, you will just lose your deposit.

Well..... I wonder about that.

In practice you just lose your deposit....

but I wonder if the school ever suffered any real damages if you could be help liable... it is a valid contract with offer and acceptance, consideration etc.

Since schools always fill the seats there is never any damages, and I doubt schools would start suing applicants, but that doesn't mean that you are not legally bound, just not practically bound.

I know I am splitting hairs here, but I think it is an interesting question.

Again, I KNOW no one is ever held to it, I just wonder what the legal actuality is.

 

[cs5910]

I paid $1000 to hold my Ross seat, but was accepted to US schools. I notified them that I was thankful for the opportunity, but would be pursuing a different opportunity. Do they same thing and you are fine. Do it as soon as you know from your waitlist so that someone else can have your spot.

**Edit: You will lose your deposit though.

 

[Lissarae06]

Well..... I wonder about that.

In practice you just lose your deposit....

but I wonder if the school ever suffered any real damages if you could be help liable... it is a valid contract with offer and acceptance, consideration etc.

Since schools always fill the seats there is never any damages, and I doubt schools would start suing applicants, but that doesn't mean that you are not legally bound, just not practically bound.

I know I am splitting hairs here, but I think it is an interesting question.

Again, I KNOW no one is ever held to it, I just wonder what the legal actuality is.

I don't remember really well since it was 3 years ago but I feel like the way it was worded in my K-State acceptance letter that it wasn't an obligation if you sent in your deposit.

 

[Foxhunter]

Well..... I wonder about that.

In practice you just lose your deposit....

but I wonder if the school ever suffered any real damages if you could be help liable... it is a valid contract with offer and acceptance, consideration etc.

Since schools always fill the seats there is never any damages, and I doubt schools would start suing applicants, but that doesn't mean that you are not legally bound, just not practically bound.

I know I am splitting hairs here, but I think it is an interesting question.

Again, I KNOW no one is ever held to it, I just wonder what the legal actuality is.

I wonder if you were to come up with some great money-making idea while in vet school (that of course you didn't think of because of the specific environment you were in, but that does make the school a lot of money) if they could sue you for that loss in theory. It would never happen, but still.

 

[StartingoverVet]

I wonder if you were to come up with some great money-making idea while in vet school (that of course you didn't think of because of the specific environment you were in, but that does make the school a lot of money) if they could sue you for that loss in theory. It would never happen, but still.

I assume this is sarcasm, but my point is not hypothetical. Just because you think it might be ridiculous, business law can be convoluted (as I have learned in years of having to read/write prospectus.)
But thanks for your contribution...😛

 

[MaiT]

Thanks for the replies, everyone! I re-read the letter over and over, and I still see nothing about it being legally bound. So I think you guys are right in that an applicant isn't legally bound. (I'm sure they are aware there are applicants in my position, waiting to hear from waitlists). But do you think I should e-mail the school directly to double check? I'm just concerned that may look bad, and the last thing I would want is for them to rescind my offer!!

 

[StartingoverVet]

Thanks for the replies, everyone! I re-read the letter over and over, and I still see nothing about it being legally bound. So I think you guys are right in that an applicant isn't legally bound. (I'm sure they are aware there are applicants in my position, waiting to hear from waitlists). But do you think I should e-mail the school directly to double check? I'm just concerned that may look bad, and the last thing I would want is for them to rescind my offer!!

It is common practice. Don't worry.

 

[Foxhunter]

Thanks for the replies, everyone! I re-read the letter over and over, and I still see nothing about it being legally bound. So I think you guys are right in that an applicant isn't legally bound. (I'm sure they are aware there are applicants in my position, waiting to hear from waitlists). But do you think I should e-mail the school directly to double check? I'm just concerned that may look bad, and the last thing I would want is for them to rescind my offer!!

You'll be fine. It's a pretty common practice.

 

[DVMDream]

Well..... I wonder about that.

In practice you just lose your deposit....

but I wonder if the school ever suffered any real damages if you could be help liable... it is a valid contract with offer and acceptance, consideration etc.

Since schools always fill the seats there is never any damages, and I doubt schools would start suing applicants, but that doesn't mean that you are not legally bound, just not practically bound.

I know I am splitting hairs here, but I think it is an interesting question.

Again, I KNOW no one is ever held to it, I just wonder what the legal actuality is.

It would not hold up in court unless they had your signature on something stating that once you have accepted the seat and made the required deposit you would not leave that seat and even then it would be hard for them to get a lawsuit through on that, since there are many reasons for a person to send a deposit, sign and then need to leave the seat.

Most schools end up keeping the deposit anyway so they are making money off of you if you don't take the seat. The UK schools at least give you back 1/3 of your money if you end up backing out of your spot.

 

[cs5910]

You are fine. Get off SDN and go celebrate your acceptance! You're going to be a vet!

 

[Foxhunter]

I assume this is sarcasm, but my point is not hypothetical. Just because you think it might be ridiculous, business law can be convoluted (as I have learned in years of having to read/write prospectus.)
But thanks for your contribution...😛

Wasn't really that sarcastic. My dad is a corporate litigator.

 

[Foxhunter]

It is common practice. Don't worry.

You'll be fine. It's a pretty common practice.

We need an immediate ruling. How common is this practice? Common or pretty common?

 

[StartingoverVet]

Wasn't really that sarcastic. My dad is a corporate litigator.

as is my brother.

 

[Foxhunter]

as is my brother.

Family mealtime was the best growing up. Slash I still get weekly email updates on all his cases (I think he's a little disappointed I didn't take that route, though there's still time to marry one!).

He used to try to dumb down cases to me (when I was 16+):

Dad: Let me tell you about my case, imagine you have a house with a fenced yard.
Me: Is your case about a house with a fenced yard?
Dad: No.
Me: They you're not actually telling me about your case, I'd really like to hear about it.

Also when we were little dad told my brother and I that he "helped grown-ups share their money" so this is what we told our teachers and friends that our dad did.

He also once was present when a $5 million settlement was paid in cash, and obviously took pictures. My little brother was around 5 at the time and went and told everyone that dad brings home suitcases full of money.

 

[MaiT]

You are fine. Get off SDN and go celebrate your acceptance! You're going to be a vet!

Haha thanks so much! It's actually through a Foundation Program, but I can't picture failing all of my courses my entire first semester...

I went to my vet clinic first thing to inform all my bosses, and one even said, "Go home, go to sleep, and then have a hard drink.' LOL

 

[Frozenshades]

Haha thanks so much! It's actually through a Foundation Program, but I can't picture failing all of my courses my entire first semester...

I went to my vet clinic first thing to inform all my bosses, and one even said, "Go home, go to sleep, and then have a hard drink.' LOL

Sounds about right. You're worrying for nothing. Just don't be a jerk and not tell the schools what your plans are. When I visited OK-state a staff member in admissions told me that one year there was a kid who paid deposits to three schools (OSU being one of them), and then never followed up again, so each school logically assumed that student would be coming. So the OSU peeps found out like a week before the semester started that this guy wasn't coming and they had an opening in the class to fill. Just don't be that guy and you'll be good.

 

[DVMDream]

Sounds about right. You're worrying for nothing. Just don't be a jerk and not tell the schools what your plans are. When I visited OK-state a staff member in admissions told me that one year there was a kid who paid deposits to three schools (OSU being one of them), and then never followed up again, so each school logically assumed that student would be coming. So the OSU peeps found out like a week before the semester started that this guy wasn't coming and they had an opening in the class to fill. Just don't be that guy and you'll be good.

The schools will remember this guys name forever too. Just be professional and you will be fine. 🙂

 

[StartingoverVet]

I stand corrected... here is the professional answer to the question:

"Unless the deposit is accompanied by a signed agreement by the student not to withdraw, college can't recover. Deposit is merely an expression of intent, not a legal commitment".

That will be $750/hr for professional advice. Please remit to SOV brother c/o SOV.

 

[DVMDream]

I stand corrected... here is the professional answer to the question:

"Unless the deposit is accompanied by a signed agreement by the student not to withdraw, college can't recover. Deposit is merely an expression of intent, not a legal commitment".

That will be $750/hr for professional advice. Please remit to SOV brother c/o SOV.

🙄

See my post. I basically said the same thing... without all of the fancy words. 😛

 

[Lissarae06]

I stand corrected... here is the professional answer to the question:

"Unless the deposit is accompanied by a signed agreement by the student not to withdraw, college can't recover. Deposit is merely an expression of intent, not a legal commitment".

That will be $750/hr for professional advice. Please remit to SOV brother c/o SOV.

Told ya. 😛