At a brokerage meeting in Sierra Vista, a seller breaches after the buyer fully performed and the buyer wants the property rather than just money. Which statement should the broker communicate?
Correct Answer
D) specific performance may be an available remedy in an appropriate Arizona real estate contract dispute
Under Arizona contract remedies; current AAR contract remedy framework, specific performance may be an available remedy in an appropriate Arizona real estate contract dispute.
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Related Topics & Key Terms
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Related Concepts
An appraisal contingency allows the buyer to cancel or renegotiate the contract if the property's appraised value comes in lower than the agreed-upon purchase price. This contingency protects buyers from overpaying.
An assignment of contract transfers one party's rights and obligations under a contract to a third party called the assignee. The original party, known as the assignor, transfers their contractual position to someone who was not originally part of the agreement.
A bilateral contract is an agreement in which both parties exchange promises and are both obligated to perform, while a unilateral contract is one in which only one party makes a promise and the other party is not obligated to act.
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