Deposit Forfeiture Upon Mutual Rescission of Real Estate Contract

A plaintiff sued a defendant for damages after a contract for the sale of real estate was mutually rescinded following a preliminary agreement, arguing the defendant was unjustly enriched by retaining the deposit paid before the rescission. The court rejected the appeal, reasoning that the mutual rescission of the preliminary agreement, which explicitly stipulated that the deposit would be forfeited to the seller in the event the sale was not finalized, precluded the buyer from recovering the deposit, as the parties' agreement determined the fate of the funds upon termination.