SINGAPORE - An undergraduate (shown above extreme left), who was given a $3,000 deposit by a potential buyer for his Audi A5, was ordered to return the money by the Small Claims Tribunal.
In November last year, 33-year-old Mr Chris Cheng agreed to buy the one-year-old car from Singapore Management University student George Ng, 22.
They agreed on a sum of $180,000, of which the $3,000 deposit was handed over to Mr Ng.
Subsequently, both parties got into an argument and accused each other of going back on the agreed deal. A four-hour confrontation at Mr Ng's home in Seletar hills led to the police being called in, reported The Straits Times.
At a mediation on Jan 12, Mr Ng refused to return the deposit claiming he did not back out of the deal. Mr Cheng, a fitness trainer, in turn accused Mr Ng of procrastinating on closing the deal.
Ruling that Mr Ng had breached the terms of the agreement the two men signed, the tribunal earlier this year ordered him to return the full $3,000 deposit with an additional $10 penalty fee.