ContractsContingenciesMEDIUM
During the inspection period, the inspector discovers a cracked foundation estimated at $25,000 to repair. The contract allows the buyer to request repairs or cancel. The seller refuses to make repairs. What can the buyer do?
Correct Answer
A) Cancel the contract under the inspection contingency
If the seller refuses to make requested repairs, the buyer can exercise the inspection contingency to cancel the contract, depending on its specific terms.
Answer Options
A
Cancel the contract under the inspection contingencyB
Force the seller to make the repairsC
Sue for specific performance of the repairsD
Automatically receive a $25,000 credit at closingWhy 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:
contingenciescontractsinspectioncancellation
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