ContractsLegacy_contractsEASY
In New Jersey, a contract contingency allows a party to:
Correct Answer
B) Cancel if specified conditions are not met
Contingencies allow a party to cancel the contract without penalty if specified conditions (like financing or inspection) are not satisfied.
Answer Options
A
Break the contract for any reasonB
Cancel if specified conditions are not metC
Change the price at closingD
Extend closing indefinitelyVideo Explanation2 min
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Related Topics & Key Terms
Related Topics:
contract-formationcontract-termination
Key Terms:
contingencycondition precedentcontract cancellationfinancing contingencyNew Jersey Attorney Review
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