During the attorney review period for a residential contract in Trenton, New Jersey, the seller's attorney sends a letter proposing to modify the closing date and remove the home inspection contingency. The buyer's attorney does not respond before the review period expires. What is the legal result?
Correct Answer
B) The original contract stands as written because the buyer's attorney did not agree to the modifications
Under New Jersey's attorney review period rules, a modification letter does not void the contract — it proposes changes to it. If the other party's attorney does not affirmatively agree to the proposed modifications before the review period expires, those modifications are not incorporated. The original contract remains in full force as originally signed. The buyer's silence does not constitute acceptance of the seller's proposed changes.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An assignment of contract transfers one party's rights and obligations under a contract to a third party called the assignee. The original party, known as the assignor, transfers their contractual position to someone who was not originally part of the agreement.
A bilateral contract is an agreement in which both parties exchange promises and are both obligated to perform, while a unilateral contract is one in which only one party makes a promise and the other party is not obligated to act.
A breach of contract occurs when one party fails to perform their obligations under the contract without a legal excuse. The non-breaching party is entitled to legal remedies including damages, specific performance, or contract rescission.
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