Law Of Contracts TOP Exam Questions And CORRECT Answers

A buyer defaults on a contract and the seller chooses to receive the earnest money. This is an example of:Liquidated damages In a residential lease with a "right of first refusal" provision:The tenant has the right to match or better any offer the landlord receives to prevent the property from being sold to someone else Bill is the buyer purchasing a property from Sally. All contingencies have been met and the parties are ready to close. One day prior to closing, Sally announces that she has changed her mind and is going to keep the property. Bill is determined to complete the purchase and acquire the property. The only default remedy in the contract that could result in Bill acquiring the property is___________________________.Specific Performance