OMVIC Practice Test

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Dive into the OMVIC Practice Test and test your knowledge on laws, regulations, and ethical practices in the automotive industry. Perfect for aspiring dealers and salespersons to validate their expertise!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

If customers give dealers a deposit but do not sign a contract, what rights do they have?

They are bound by the verbal agreement
They can only demand the deposit back if it's within 24 hours
They have no rights without a signed contract
If no signed contract and deposit given, purchaser can demand deposit back anytime

The correct answer is: If no signed contract and deposit given, purchaser can demand deposit back anytime

Without a signed contract, the customer has the right to demand their deposit back at any time. Option A is incorrect because verbal agreements do not hold the same legal weight as written contracts. Option B limits the customer's rights to a very short time frame. Option C is incorrect because even without a signed contract, the customer still has rights to their deposit. Option D is the correct answer because it accurately reflects the customer's rights in this situation.