ContractsMEDIUM
In Virginia, the default remedy for buyer breach is:
Correct Answer
B) Liquidated damages (typically forfeiture of earnest money)
The typical remedy for buyer breach is liquidated damages, usually limited to forfeiture of the earnest money deposit.
Answer Options
A
Criminal prosecutionB
Liquidated damages (typically forfeiture of earnest money)C
Automatic property transferD
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Related Topics & Key Terms
Related Topics:
contract-remediesearnest-money-provisionsliquidated-damages-clauses
Key Terms:
liquidated damagesearnest moneybuyer breachVirginia contractdefault remedy
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