ContractsRemedies For BreachHARD
If a buyer in West Virginia defaults on a purchase agreement without a valid contingency, the seller may:
Correct Answer
D) All of the above, depending on contract terms
When a buyer defaults, the seller's remedies depend on the contract terms and may include retaining earnest money as liquidated damages, suing for specific performance, or selling to another buyer and suing for actual damages.
Answer Options
A
Retain the earnest money as liquidated damagesB
Sue for specific performanceC
Sell the property to another buyer and sue for damagesD
All of the above, depending on contract termsWhy This Is the Correct Answer
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Why the Other Options Are Wrong
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Background Knowledge for Contracts
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Related Topics & Key Terms
Related Topics:
civil-remediesspecific-performanceliquidated-damages
Key Terms:
default remediescivilearnest moneyspecific performancenot criminal
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