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In this scenario, I'll have ordered the item and paid through PayPal, and there is no prompt for preorder or "email when available". It simply allows you to order the item, but does state "Call or email for availability."
If it's only revealed after purchase that it's delayed, and for whatever reason they won't cancel the order because it's pending, would PayPal accept a dispute in which I request a refund and order cancellation because the retailer did not list the item's unavailability?
When you pay a company (rather than an ebay seller or individual), then it is often pending until that company processes your order and captures the pending payment.
If they don't process that order and capture the pending payment then the pending status times out at 30 days post-payment.