Contracts
The seller's right to continue marketing the property while a purchase offer is pending, with an obligation to notify the buyer if a backup offer is accepted, is called a(n):
ARight of first refusal clause
BKick-out (release) clause✓ Correct
COption clause
DEscalation clause
Explanation
A kick-out (or release) clause allows the seller to continue marketing and accept another offer, but must notify the original buyer who then has a set period to remove their contingency or lose the contract.
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