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If the contract to buy the horse trailer was not contingent on any financing, then your daughter would have to come up with her own financing to pay the balance of the purchase price.
If she cannot afford to pay the balance the way the seller wants, you can try negotiating with the seller to possibly take installment payments over a period of time, or if he does not want that, you can negoriate to have the seller hold onto the horse trailer for a couple of months, giving your daughter a little more time to find financing or come up with more of a down payment and maybe then the seller will consider installment payments.
Another alternative is to walk away from the contract, but in that situation, the seller can sue her for the balance of the purchase price and keep the $300.
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The dealer would sue her for breach of contract and he would be awarded judgment. The Judge would probably award the dealer liquidated damages in the amount of $300, the amount you gave on behalf of your daughter for the down payment.
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