ContractsContingenciesEASY
The buyer may hire inspectors and renegotiate or terminate the deal if serious defects are discovered within the stated period. What contingency is this?
Correct Answer
C) Inspection contingency
Inspection contingency is correct because the facts match a provision allowing the buyer to inspect the property and, depending on the contract, request repairs or cancel if unsatisfactory conditions are found. That is the best description of the relationship, right, or legal concept tested here.
Answer Options
A
Appraisal contingencyB
Sale-of-existing-home contingencyC
Inspection contingencyD
Due-diligence contingencyWhy This Is the Correct Answer
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Why the Other Options Are Wrong
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Deep Analysis of This Contracts Question
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Background Knowledge for Contracts
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Real World Application in Contracts
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Common Mistakes to Avoid on Contracts Questions
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Related Topics & Key Terms
Key Terms:
contingenciescontractscontingencyinspection
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