What are your rights when making a down payment?

Questioner

Hello, I sold a hunting weapon 4 months ago and received a down payment. Now, after 4 months of being strung along, I received a message from the buyer saying he was cancelling the purchase. He told me to sell my gun to someone else and pay back his down payment. My question is: What are my rights and obligations in this?

Lawyer

Day, a deposit is an option to purchase. Whoever decides not to use the option loses his deposit.