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Az ContractsBreach_remedies_azMEDIUM

At Desert Mesa Brokers in Goodyear, In Arizona, which statement best describes law and equity remedies?

Correct Answer

D) depending on the contract and facts, Arizona remedies may involve cancellation and other relief recognized at law or in equity

Under current AAR contract remedy language; Arizona contract law, depending on the contract and facts, Arizona remedies may involve cancellation and other relief recognized at law or in equity.

Answer Options
A
the only Arizona contract remedy is a complaint to ADRE under current Arizona law
B
cancellation always eliminates every other remedy in every Arizona real estate dispute
C
law and equity concepts do not apply to Arizona real estate contracts
D
depending on the contract and facts, Arizona remedies may involve cancellation and other relief recognized at law or in equity

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Related Topics & Key Terms

Key Terms:

arizona_specificbreachlaw_equitybreach_remedies_azaz_contracts

Related Concepts

A time is of the essence clause in a contract means that all deadlines and dates specified in the agreement are strictly enforceable, and failure to meet them constitutes a material breach.

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.

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